NVIDIA's earnings exceeded expectations, its Q2 guidance was higher than market consensus, and it announced an additional $80 billion in stock repurchase authorization. The growth story is quite perfect, but the stock still fell 1% in pre-market trading, while long-term Treasury yields rose again. The Fed meeting minutes released yesterday showed that most Fed officials did not rule out the possibility of raising interest rates. It can already be determined that the last straw for the market's recent continued rise has fallen. The S&P 500 will enter a 1-3 month volatile downward cycle, with the first target at 7270/7150 by the end of May. Starting today, short positions can be established for tech stocks that have risen significantly earlier. Any long positions in tech stocks can only be quick in and out, and one must not get entangled in a prolonged battle.$NVIDIA(NVDA.US)$Tesla(TSLA.US)$Circle(CRCL.US)$Micron Tech(MU.US)$Sandisk(SNDK.US)$AMD(AMD.US)$Intel(INTC.US)