The 10-year US Treasury yield remains around 4.67%, and the market expects about 88000 new non farm payrolls tonight. If the data is lower than expected, it will strengthen the expectation of a September interest rate cut, and growth stocks are expected to continue to recover; If it exceeds expectations, there will still be pressure on high valuation technology stocks. MU Recently, due to the drag of Sandisk and WD's financial reports, funds are concerned about the storage cycle peaking, and MU has continued to decline. However, the demand for AI HBM has not changed. In the short term, it belongs to the emotional killing of valuation, and the medium to long term logic is still in place. SKHY After ADR went public, it has since retreated from its issue price, but Wall Street still gives a positive rating and is optimistic about HBM's leading position. If the AI sector stabilizes tonight, the rebound elasticity of Hynix is expected to be stronger than that of Micron. bitcoin:native BTC has been fluctuating around $64000 without any significant fund stampede. My observation is that BTC has begun to move away from the logic of pure technology stocks and is more driven by the US dollar and liquidity. If non farm payroll weakens and US Treasury yields fall, BTC is expected to strengthen first. Tonight we're watching the non farm payroll, not the candlestick chart; Look at interest rates, not emotions.