美股为何持续上涨？高盛交易员揭秘：谁敢逆势做空！

Group 1 - The US stock market is experiencing a complex mix of excitement and anxiety, with investors questioning the sustainability of the current bull market and the timing of potential risks [1][3] - The market dynamics are influenced by the ongoing AI boom, ample liquidity, and expectations of interest rate cuts, which are unlikely to dissipate in the short term [3][7] - Speculative funds have become the main force in the market, pushing prices higher while fundamental analysis takes a backseat [3][7] Group 2 - The confrontation between bullish and bearish forces in the market has intensified, with more investors leaning towards buying and fewer willing to short [5] - The S&P 500 index rebounded strongly after a sell-off in April, driven by speculative capital, which has led to a one-sided market direction [7] - Despite the accumulation of risks, investors continue to bet on the continuation of the bull market, driven by short-term strategies and the influence of AI and liquidity [8][10] Group 3 - Market sentiment is heavily influenced by AI, liquidity, and expectations of interest rate cuts, with risks being postponed until a critical point is reached [8][12] - The influx of speculative funds and new participants like AI traders and CTA funds has created a market environment where shorting is seen as counterproductive [10][14] - The current market atmosphere resembles the 2021 cryptocurrency bull market, characterized by a "only up" mentality despite underlying economic concerns [14]