Recent news has been a mix of positive and negative signals, but the overall sentiment remains pessimistic, and market panic is strong. Therefore, the market is likely to open with a gap down tomorrow, with an estimated opening price around 4083.

Many people are watching the continuous outflow of the broad-based ETF, but I think this shouldn't be the main reference. Looking at individual stocks makes it clear—some stocks appear to have continuous large outflows of funds, yet one day they suddenly jump with a big bullish candle. Fund inflows and outflows, frankly, are like magic tricks; they can be misleading.

However, the stocks hitting the limit down are worth paying attention to. Regulatory authorities are clearly controlling malicious speculation, and the era of small-cap or poorly performing stocks being manipulated is over. But the reality is, tomorrow 23 stocks are facing three consecutive limit-downs, many of which are hitting the limit with a single order. In this situation, these stocks are likely to be targeted for short-term rebounds. Once a stock is no longer tightly sealed at the limit down, a large amount of funds can be released, which can temporarily halt the downward emotional trend.

So the question is: with the market opening gap down, will the entire market decline tomorrow?

I don't think so. If we have to say there's a broad decline, it would only be at the opening. After the market opens, the number of stocks rising should gradually increase.

In other words, tomorrow is likely to open low and then move higher, closing with a bullish candle. On the All-A index, this should manifest as a small positive candle near the 10-day moving average. If next Monday the All-A index indeed closes with a small bullish candle, then Tuesday is very likely to see another bullish move.

We'll continue to observe how it develops tomorrow.