Goldman Sachs(US:GS) Xin Lang Cai Jing·2026-02-09 00:29Group 1 - The S&P 500 index has broken the short-term trigger point for Commodity Trading Advisors (CTA) to sell stocks, indicating potential further selling pressure from trend-following algorithmic funds in the coming week [1][4] - Goldman Sachs estimates that if the stock market declines again, it could trigger approximately $33 billion in selling pressure this week, with an additional potential $80 billion in systematic selling if the S&P 500 falls below 6707 points [1][3] - The market's liquidity has significantly deteriorated, with the average size of optimal liquidity orders dropping from about $13.7 million to approximately $4.1 million, a decline of over 70% [3][4] Group 2 - The volatility index (VIX) reached a level of 9.22, indicating that the market is nearing an "extreme fear" state, reflecting heightened investor anxiety [1][3] - Retail investors have shown signs of fatigue, with a net selling of $690 million in the last two trading days, suggesting a shift from the previous "buy the dip" strategy [6] - Seasonal factors indicate that February is historically a weak month for the S&P 500 and Nasdaq 100 indices, as the supportive capital flows from January dissipate [6]