The time window around New Year's Eve is indeed not easy. Many people are still debating whether prices will go up or down, but the underlying logic is even more worth pondering.

The key point is this—institutional funds operate according to the fiscal year. Each institution's year-end report data cutoff date is December 31st, which is no coincidence. Some public and private funds even complete their accounting a few days before the end of the month. All the annual report data disclosed afterward are based on this specific time point.

In other words, from mid to late December through the beginning of the new year, institutions are busy with account adjustments, position optimization, and asset allocation. Every operation has a clear purpose—either to beautify financial reports or to adjust strategies for the new year.

The uniqueness of year-end market conditions lies in this. Seemingly random fluctuations are actually strategic capital games. To seize opportunities during this period, you need to understand these underlying logics first, rather than blindly following the trend. Stay calm, observe carefully, and act only after understanding.