Although the United States has already resumed work today, the overall market liquidity has not yet returned to pre-holiday levels. Looking at trading volume, it is slightly higher than during the holiday, but the gap compared to last week is still quite significant. This also indicates that Asian investors still hold a certain proportion in the market. The most important event this week should be the U.S. Supreme Court's inquiry into Trump's tariffs early Saturday Beijing time.

It is still unknown whether there will be a final conclusion. If there is a conclusion, it would be a good thing. If the tariffs are deemed legal, it may not be friendly to U.S. inflation, but it could boost Trump’s credibility and help the Republican midterm elections. If deemed illegal, it could impact the Republican midterm elections but would be beneficial for U.S. inflation.

Moreover, the most important thing is that Trump can no longer use tariffs to scare the market. Since Trump’s second term, many impacts on the market have been through tariffs—just those two words have caused significant market volatility.

A pullback around 1818 below can be used to go long, with a rebound target potentially reaching 1855-1880.