Group 1 - The article discusses the author's journey in learning about markets, starting from the age of 19, and emphasizes the importance of macro insights and technical indicators in trading [1] - The author engages in physical activities such as running, cycling, or lifting, often contemplating macro and market trends during these activities [1] Group 2 - There are no disclosures regarding stock, options, or derivatives positions in any mentioned companies, indicating a neutral stance [2] - The article expresses personal opinions and does not provide compensation beyond the platform it is published on [2]

Market Sentiment & Contrarian Indicators - In April, many predicted market doom, but Piper Sandler remained calm due to washed-out technical indicators [1][2] - Negative sentiment persists, even within bond desks, which Piper Sandler views as a contrarian indicator [4] - The market could fall 20%, but buyers are still active [6] - When investors become more bullish, the industry needs to pay attention [6] Small Cap Performance & Outlook - Small cap stocks, particularly the Russell 2000, experienced a notable rise [7] - A new high for small caps is anticipated, likely in the fourth quarter, possibly November or December [9] - Constructive bases are forming in small cap companies across industrials, financials, and tech, signaling further upside [12] S&P 500 Target - Piper Sandler has a year-end objective of 6,600 for the S&P 500, approximately 2% away, viewing it as a "pit stop, not a destination" [13]

Market Sentiment - MyriadMarkets 用户认为比特币本周收盘价高于 122,000 美元的概率约为 40% [1] Technical Analysis - 技术指标分析请参考链接 [1]