The Shanghai and Shenzhen stock markets continued to rise today, with the Shanghai Composite Index pushing towards the 4110-point level, and trading volume remaining high. The total daily turnover is expected to exceed 2.8 trillion yuan, indicating strong market participation.

However, the issue is—this 4100-point level is no trivial matter. As both a technical and psychological support level, its resistance should not be underestimated. Based on the volume-price relationship, there is a high likelihood of facing significant resistance in the afternoon, with a risk of a sharp pullback.

It's also quite interesting to observe the performance of overseas markets. U.S. stocks showed mixed movements, with the Nasdaq slightly weakening, but Chinese concept stocks defied the trend and rose by 1.04%. The Asia-Pacific region also followed suit—Nikkei up 1%, South Korean stocks up 0.2%, while Hong Kong stocks lagged behind, with the Hang Seng and tech indices only slightly rising.

Looking at the sectors, the main theme of this year's market remains clear. The non-ferrous metals sector is very strong, rising by 3.3% in one go, with rare earths surging 3.96%, and commercial aerospace also performing well with a 2.62% increase. The high-tech sector shows clear differentiation, with new energy and artificial intelligence leading, but segments like domestic GPUs, chips, lithography machines, and super-hard materials did not perform as spectacularly.

Over these four trading days, the trading volume has approached 30 trillion yuan, and the Shanghai Composite Index has been climbing steadily. Combining the current volume-price characteristics, the top of this rebound is very likely to appear today or early next week. At that time, the index could experience a sharp decline at any moment, especially with a high probability of a plunge in the afternoon.

For investors, the most taboo thing right now is blindly chasing highs. It’s important to stay rational. The market has never only gone up without any dips—that’s an iron law. Investors with heavy positions might consider reducing their holdings moderately during this rally. Although there is short-term pressure for a correction, looking at a longer cycle, the Shanghai Composite Index still has significant room to rise, and medium-term investors can continue to hold confidently.