The trend of the Nasdaq is not very optimistic either. Currently, this rebound is actually just a retracement of the breakdown of the upward trend during the 10.11 liquidation, accompanied by decreasing trading volume. If it further loses the low point, then a lower high will be formed. We can expect a lower low to come. So, how should we hedge during this process? One way is to buy SQ on dips and calculate that about one-third of the total position can hedge the equivalent position of Nasdaq or Q. Another way is through US stock contracts, but all the US stock contracts on CME are delivery-based. Honestly, I am used to perpetual contracts in the crypto space, and moving contracts around is a bit unfamiliar. Those with small capital can try RWA products in the crypto space, such as MSX @MSX_CN's US stock contracts, which include Q futures.