The US Consumer Confidence Index has hit a new low, indicating that Americans are tightening their belts and reducing investments, which may lead to continued economic deterioration or possibly a reversal.

The last four lows:

1. November 2022, bear market bottom;

2. May 2023, a phase of boredom, small bull market began in October;

3. November 2023, small bull market in full swing;

4. July 2024, the eve of the November bull market.

The current low does not mean an immediate V-shaped recovery, but it does indeed indicate we are entering a range for building a bottom position.