May 30th, in the midst of Trump's tariffs that can flip and flop, we must stay steadfast.

Hello everyone, I'm Old Naughty Boy, a practitioner who has achieved tenfold growth in five years. In the next five years, let's grow and work hard together. Now, with all these old guys around, our comments are starting to sound like storytime. What's going on here? 🤔

Last weekend, Trump staged a farce over EU-US tariffs. Yesterday, two US courts clashed again. First, the US Court of International Trade ruled that Trump overstepped his authority on tariffs, instantly exciting the market. Nasdaq futures surged 2%, and S&P 500 futures broke through 6,000 points. But soon after, there was another dramatic reversal. The Trump administration filed an emergency appeal within an hour, and the appellate court immediately suspended the original ruling, temporarily preserving the tariff policy. After the spot market opened, the three major indices quickly retreated from a 1% high open, ending with only slight gains.

 

After all this turmoil, the daily chart signals for index futures and spot indices have diverged significantly. $NASDAQ Composite Index(.IXIC.US) Nasdaq futures failed to break through, forming a long upper shadow, while the spot index lacked upward momentum but maintained its structure. The conflicting signals are really putting us bettors in a tough spot. The Dow and S&P are in similar situations.

US 10-year Treasury yield retreated from its high to 4.422%, as market expectations for rate cuts cooled. Some funds flowed back into the bond market, and Treasury ETFs are now showing floating gains. Holdings remain unchanged.

As for our holdings, we're in a defensive stance. Yesterday, after seeing Nvidia $Proshares UltraPro Short QQQ ETF(SQQQ.US) we reduced some at 140 and added a bit of $Proshares UltraPro Short QQQ ETF(SQQQ.US). No other operations were made, and the overall position is almost fully hedged, waiting for a market pullback. Our habit is to consider futures signals more significant, so we expect a period of retracement after a false breakout.

Many stocks formed long upper shadows yesterday, which warrants attention.

Bitcoin fell to $106,000, correcting after overbought conditions following its previous peak, entering an expected pullback phase. Currently holding some short positions in Dogecoin, reduced but still held.

$NVIDIA(NVDA.US) As the market's absolute focus, Nvidia opened high but closed low, falling below the $140 mark to close at $139.19 (up 3.25%). Pre-market, it further dropped to $138, with concerns over its China business losses capping gains. The most likely scenario is continued decline today, testing support at $135. Medium-to-long-term positions remain on hold.
$Apple(AAPL.US) Failed to extend gains from the previous day, falling below $200. Pre-market, it continued to drop. Shifting its supply chain out of China isn't easy, and moving it to the US might as well just mean paying tariffs.
$Tesla(TSLA.US) Intraday high at $367.71, closing at $358.43, with after-hours trading dropping to $355. The positive impact of Robotaxi trial runs has been digested. If it falls below $350, this rally is likely over.

Starting in June, negative news about tariffs will increase, and the market will be shrouded in a bearish sentiment. In such times, rebounds driven by positive news may be short-lived, and negatives will dominate the market's downward volatility. There's no rush to add positions.

$Dow Jones Industrial Average(.DJI.US) 

$S&P 500(.SPX.US) 

$Hang Seng Index(00HSI.HK) 

$Hang Seng TECH Index(STECH.HK) 

$CSOP UST20(03433.HK) 

$iShares barclays 20+ Yr Treasury Bd(TLT.US) 

$FI2 CSOP HSI(07500.HK) $Microsoft(MSFT.US) $Amazon(AMZN.US) $Meta Platforms(META.US)