Yesterday, the overall picture remained relatively optimistic. It followed the expected course as a first wave surged to the area around 67,000 to draw people in, and then pulled back to around 65,300. The spread of more than 1,000 points was also an opportunity to take positions—i.e., it was being filled rather than leaving room.

From the current perspective, volatility has been somewhat compressed overall, and the market is in a weak rebound after a decline. Although the technicals show a bearish bias on the larger timeframe and a short-term box-range consolidation pattern, the market is digesting Japan’s rate hike and the US–Iran agreement, while it is also waiting for the Federal Reserve’s decision in the early hours to provide a new direction. During the daytime, the short-term trend is mainly dominated by range-bound movement, using the box around 64,500–67,500 to sell at the highs and buy at the lows; the short-term setup is not likely to improve quickly or “wrap up” in a good way. Remember to do a good job with risk control.