Jinshi Data News on August 5th, HSBC stated that the stock cycle model shows that the market is currently in a "dumping" mode, which usually lasts for a month, and the S&P 500 index averages a 10% decline. Strategists, including Duncan Toms and Max Kettner, wrote that there is further room for a general pullback in the stock market. They stated that the "dumping" period is often relatively short and may provide an opportunity to increase tactical risk exposure, but it is not yet time to do so as sentiment indicators indicate that it is still too early to Buy the Dips. The model issued the most pessimistic signal since October 2022.