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This round of bull market is generally a bit stuck.The market is still in the bull market three-wave cycle.

Five waves are recession waves, and it is hard to say how much they can rise, but the cycle is likely to end next year, at the latest in the first quarter of 2026. The overall bull market cycle is about two years.The market is still in the bull market three-wave cycle.The market is still in the bull market three-wave cycle.

If big consumption and new energy really peak next year, basically the bull market in the market will be over.The time period of Sanlang will end in the first quarter with a high probability.