Remains bullish and wait for reversal signal

Last week, both CPI and PPI data came in below expectations, indicating signs of rising inflation. However, the market did not experience a sharp decline; instead, prices held above 21,432, demonstrating strong support.

This market reaction suggests that seller were not willing to enter at this stage. The market maintained its uptrend, broke through previous highs, and reached the target level on Friday, surpassing the 21,968 and 22,100 resistance levels consecutively.

As long as there are no technical signals indicating a market reversal, the overall outlook for next week remains bullish. The next price target is 22,465, and attention should be paid to the market's performance within the 22,300–22,465 range to further assess its direction.

From a long-term perspective, I still believe that U.S. tech stocks are overvalued, and various risk factors could trigger a downturn. And the potential correction could be significant. My specific views can be referenced in my previous market commentary from February 3–7, 2025.

Therefore, when taking long positions, it is crucial to remain vigilant about market sentiment shifts, as the market could reverse at any time. I will wait for technical confirmation on the 4-hour chart and enter short positions once reversal signals appear.