5.22 Afternoon Big Cake Analysis

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Currently, the 1-hour Bollinger Bands for the Big Cake are clearly tightening; the current price at 77,385 is pressing below the middle band. The KDJ is trending downward and appears weak, and overall the market is in a tight-range consolidation pattern!
There is clear resistance above 77,900-78,200, while support below 76,700-76,970 is firm, and bulls and bears have entered a period of watch-and-grapple.

The core variable is concentrated around 23:00 tonight, when the newly appointed Federal Reserve chair, Wo Shi, will be sworn in. His policy bias will become a key short-term guide for market direction. The market widely expects Wo Shi to be hawkish, placing more emphasis on anti-inflation measures, maintaining high interest rates, and delaying the pace of rate cuts—bearish for risk assets. Under this expectation, funds have moved to de-risk and wait ahead of time; spot ETF funds have seen a slight outflow. As a result, the bulls lack upward momentum, causing rebounds to be weak and the overall trend to remain weak. If there is no sudden positive catalyst, the price action during the day will most likely stay in a range-bound oscillation, as the market waits for the swearing-in ceremony to release monetary policy signals; the subsequent trend will be determined entirely by his remarks.

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