At 10 PM tonight, Fed Chair Powell will deliver his final speech at the Jackson Hole annual meeting. The market has reacted strongly, the dollar has strengthened, gold prices have fallen, and the S&P 500 index has seen five consecutive days of decline, setting a record for the longest losing streak this year.

There are reports that Powell may adjust the policy framework established in 2020. Five years ago, in order to stimulate the economy, the Fed allowed the inflation rate to exceed the 2% target in the short term. Now, the Fed seems to be planning to return to a more traditional policy stance, placing greater emphasis on controlling inflation while maintaining a relatively loose stance on the labor market. This potential policy shift suggests that the Fed may adopt a more hawkish position in the medium term, with future rate cut decisions likely to be more cautious and the pace of rate cuts possibly slowing down.

Currently, there is no consensus expectation in the market regarding Powell's speech content. Whatever he says may trigger an excessive market reaction. In this uncertain environment, investors need to remain vigilant and closely monitor market trends.

At the same time, the global financial markets are also showing a complex situation. The liquidity in the Chinese market is abundant, but the enthusiasm has not reached expectations. Investment opportunities in the Hong Kong stock market have also sparked discussions. The U.S. stock market, especially technology stocks, has experienced significant fluctuations, raising concerns about a possible crash. In addition, the future trend of the dollar, changes in the renminbi exchange rate, and potential opportunities in the gold market have all become focal points for investors.

In this complex and ever-changing market environment, investors need to remain calm, closely monitor market changes, and look for potential investment opportunities. Whether it is the Fed's policy adjustments or the fluctuations in major global markets, they may present opportunities for prepared investors. Staying vigilant and conducting thorough research and analysis will be key to achieving success in the current market environment.