The AAII Index shows retail investors are extremely pessimistic, suggesting $SPX will continue a choppy upward trend amid U.S.-China tensions. The latest AAII survey shows the bearish sentiment among retail investors has surged to 46.1%, with the net bullish sentiment dropping to -12.4%. Meanwhile, the VIX Index remains elevated and is likely to decline, while overall market participation is at a neutral level. These conditions will drive U.S. stocks ( $SPY, $QQQ) to be easier to rise than to fall. At the APEC meeting on October 31, the U.S. and Chinese presidents are expected to meet — which should mark the end of current geopolitical uncertainties. Combined with the rate cut on October 29 and a highly probable rate cut on December 10, November’s market outlook looks promising. Therefore, in the one to two weeks leading up to APEC, buying quality or trending stocks on dips could yield solid returns in November. Hot sectors in U.S. stocks include rare earths, quantum computing, and nuclear energy — consider buying in batches during pullbacks ( $MP, $RGTI, $OKLO). In crypto, $BTC, $ETH, and $SOL are likely to be lifted by SPX, potentially completing their final rally wave in November. Be patient and position strategically.