6.8 Monday afternoon — continue 🈳

A person whose inner conviction is easily swayed will ultimately find it hard to accomplish great things. Just like today, still in sleep mode: after a round of upside, there are no shortage of voices in the market shouting that a reversal is coming. Even the haters in Wukong’s comment section have started barking like crazy. This morning, Wukong gave a move above 635 🈳; in the afternoon, the low was 623 — a real, hard thousand-point pullback. Slap in the face, huh?

Structurally, nothing has changed because of the morning rally. The rebound is still 🈳, it’s just that the strength doesn’t need to be watched as deeply. After all, it has fallen so much — the market also needs a period of consolidation to adjust, or in other words, to repair. Going forward, no matter how much it rebounds, as long as it can’t hold above 640, Wukong here will keep the bearish view unchanged.

Afternoon reference: around 635 🈳, with a downside target of 620-610.