It's best to forget the consecutive sharp declines in March, and also forget the twenty consecutive gains in April, especially since this kind of consecutive gain is very rare in U.S. stock market history and highly abnormal. If it's deeply ingrained in memory, it can easily interfere with subsequent operations.

It's highly likely that the U.S. stock market will resume greater volatility starting in May. The extreme short squeeze rally in April left the entire market with very few short positions, and a market consisting solely of long positions is very unhealthy. Once there's a pullback, CTAs will accelerate selling. Moreover, pension funds need to rebalance their stock and bond allocations by the end of April. I posted on March 30th saying pension funds made a large-scale entry to bottom-fish at the end of March, and now the opposite should happen.

Based on this, the probability of a sharp rise to 7400 or 7500 in May-June is very small. It's also a good opportunity to wait for cheap chips during the volatility.

The strategy to adopt at this time is to wait for buying opportunities while selling QQQ at high levels, in lots of 100-300 shares, because a pullback is coming, and tech stocks definitely have the most profit-taking pressure.

Since the market is still overall bullish and strong, short positions are for the short term, and the cheap goods bought are for the long term.