First of all, the market situation in 2023 can be divided into three periods. The first period is from January to June. During this period, the CPI will fall relatively quickly, because the prices of goods and services in 2022 are relatively high from January to June, and the base is relatively large. Therefore, the cpi will fall relatively quickly during this period. The market will react to this benefit in advance. There will be a better rebound. The second period is July-August. During this period, because the CPI has dropped, the market has already entered. However, due to certain uncertainties in the US job market, employment is still relatively strong, so the decline in service-related CPI will be relatively slow. In addition, the stocks of major technology leaders will be affected by interest rate increases, and their performance is expected to fluctuate significantly or even decline. At this stage, the market begins to trade in recessionary logic, and the market will most likely fall back or fall.