$Hang Seng Index(00HSI.HK)

Since the beginning of this year, the strength comparison between the Hang Seng Index and the Hang Seng Tech Index (see attached image) might surprise you a bit;

Year-to-date,

$TENCENT(00700.HK)

$BABA-W(09988.HK)

$MEITUAN(03690.HK)

$XIAOMI-W(01810.HK)

and other popular stocks' strength comparison (see attached image);

The third image shows the performance of U.S. stock indices and star stocks year-to-date (see attached image)

$SPDR S&P 500(SPY.US)

$NASDAQ Composite Index(.IXIC.US)

$Tesla(TSLA.US)

$Alphabet - C(GOOG.US)

$NVIDIA(NVDA.US)

$Apple(AAPL.US)

$Netflix(NFLX.US)

From this, it can be seen that,

Whether it's individual stocks or sector indices, or different investment markets, they all have cyclicality. Grasping the rhythm of cyclicality can lead to better returns, while misjudging the rhythm might result in continuous losses.