As discussed here in the morning, the probability of interest rate cuts has greatly increased, and the easing trades driven by rate cut expectations should be able to capitalize on this in early December. However, this week, U.S. stocks are only trading for three and a half hours, and the liquidity is slightly weaker due to the market being closed. Therefore, there is still a possibility of touching 90,000, but the probability of holding that level is low. Although the trading is driven by rate cut expectations, these expectations are relatively weak for the following reasons: a significant drop requires time to recover, and while rate cut expectations may help establish a short-term bottom, they are not that strong. The market still needs confirmation: If it’s a hawkish rate cut, how hawkish will it be? What is the forecast for interest rates next year? How will the data released in mid-December look (it has been emphasized that inflation trends determine the pace of the Federal Reserve's interest rates)? Can liquidity return to the median value of the past three years?