Three scenarios tonight

(1) Powell sends a clear signal that a rate cut will happen in September, which would be positive, sounding the horn for a counterattack, probability 20%

(2) Powell says it is not appropriate to cut rates now, but will slightly hint at a potential rate cut, which would also be positive, probability 50%

(3) Powell shows no willingness to signal a rate cut, and even strengthens a hawkish stance, which may lead to another decline, probability 30%

Rationally speaking, we should observe first. If it's spot trading, then gradually buy the dip; for contracts, only take needle-insertion trades, waiting for the situation to reverse.