In July, there is no possibility of interest rate cuts, and the non-farm payrolls are so strong. Recently, the U.S. has also started researching tariffs for allies. Yesterday, a 25% tariff was set for Japan and South Korea, and discussions on tariffs have also affected the market decline. I think the recent market may replicate last year's trend, with a downward adjustment in July and August leaning towards a falling channel. There are expectations for an interest rate cut in September, just like last year, with a direct cut of 50 basis points. October is traditionally a month of big pumps. October 2023 and 2024 both had big pumps. This year should be no exception. By then, the U.S. will implement point shaving, and we will do the same. The A-shares should also rise in the second half of the year. #Gate VIP理财送茅台# 0192837464656574839201