We came hiking. We're going to follow this path up. Let's go! This is why it's so reassuring. Let's go, Vector! Let's go! We have 120 meters left. Oh, we're climbing well. If you come up here, what you see is Gangjeong Port. And if you turn around, the bump you see is Songaksan. Next to Songaksan, the second lowest mountain is Sambangsan. That's Sambangsan. In front of us is an apartment complex, and if you go up higher, there are some good places to visit. Oh, look! There's a forest fire observation post. We're going to go up there. What you see over there is Baengnokdam. Oh, I'm carrying this because I'm afraid of climbing. Over there is the corner, and that's Baengnokdam. [Laughter] Let's go! If you look, the clouds are above Baengnokdam.

The market is quite volatile right now. If I share the current status of the stock market, it has reached a peak and is now coming down. There has been a technical rebound, but it is expected to fall again. The big picture of the stock market, in my view, shows that the S&P 500, which was around 5,650, has dropped significantly, approximately to 5,050. However, if we look at it over a year, we can see it will rise again along the trend line and reach a new peak. I believe this peak will be around 6,000 for the S&P 500, likely by December of this year, or if it is delayed, possibly in the first quarter of next year. If there is no recession, December will be the time when the S&P 500 touches 6,000. In the short term, there has been a technical rebound from this point, but after this rebound, it is expected to decline again.

56000, this is the big picture of the stock market that I envision happening within the next year. Around August to September, I think we might see this view: a flat range, slightly going down at times and slightly going up at others. However, looking at the stock market in October, we might observe that the overall trend from August and September remains flat. There won't be significant surges or crashes, just a flat phenomenon. Isn't it nice? It's refreshing.

단기, 중기, 장기적 증시 뷰, 제 생각을 백록담에 비유하여 말씀을 드리겠습니다.

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