The weekly bearish breakdown is a foregone conclusion, and the downward momentum has not been fully released at all. Each rebound is a deceptive trap for longs, with the rebound highs getting lower and lower, and the bulls have no power to fight back.

The current market is purely weak sideways consolidation, relying on sideways movement to burn time and repair oversold indicators; there is no basis for a reversal at all.
Major and minor cycles are under heavy resistance, the bearish trend hasn't changed at all. A second bottom-testing move is poised to unfold. All rebounds are opportunities to go short. Stay firm in the strategy of shorting on bounces without wavering.
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