I just finished reading this news and couldn't help but say a few words. After years of crawling and fighting in this market, I've basically been through all the pitfalls. Today’s Federal Reserve rate cut operation is quite intriguing in terms of market reaction.

Nick Planklin hit the nail on the head — this rate cut is more confusing than surprising. Everyone was expecting a clear signal of liquidity injection, but what they got was a vague hint, implying that "maybe there will be one rate cut next year." It’s like being thirsty and waiting for someone to offer water, but they hand you half a bottle with the cap on—what thirst can that quench? The market’s disappointment from being "kept in suspense" immediately arose. Relying on this to directly ignite the Christmas rally? That’s too idealistic.

The divergence Timothy Misir observed is even more interesting. Smart money is quietly accumulating, while retail investors are panicking and rushing out. We’ve seen this scene many times — either the market is brewing a direction or it’s a prelude to a new trend. Institutions are taking advantage of this wait-and-see mood and panic selling at low levels to build positions, while ordinary players are scared off by short-term volatility. Basically, it’s an information gap and a difference in perspective: institutions focus on long-term strategies and macro logic, while retail investors watch the K-line jump up and down.

My simple view is: don’t expect a single piece of news (like this rate cut) to immediately trigger a rally, but stay alert to the current situation of "institutions absorbing positions, retail investors retreating." This kind of structure is usually not a top indicator. Instead, it looks more like...