The rate cut is basically a done deal. The market move yesterday early morning was actually a pre-emptive reaction. Many people thought that was the short-term top, but think about it—sideways movement at a high level also has another interpretation—it might be brewing for the next surge.

I previously summarized five typical market pattern formations, and now it seems many people's judgments at the time were correct. The biggest risk now is being shaken out by false breakouts; patiently waiting for signals is better than guessing blindly.

The Fed's meeting this time has almost been fully priced in by the market, and now it's just a matter of the emotional game after the actual implementation.