Last time around 92000, there was an ineffective breakthrough and it fell again, stabilizing around 84000. After a brief adjustment, it quickly rebounded to around 92000. Whether it can break through this time will directly determine the strength of the rebound in December!

In December, the Federal Reserve will officially end QT, which began in June 2022 and will conclude in December 2025, lasting three and a half years. The balance sheet reduction has finally ended.

Currently, stopping the balance sheet reduction + interest rate cuts is a long-term positive, and I am more confident about next year's market!