Today, SNDK's technical movement was once again astonishing. Because on Wednesday, it just bounced back from the bottom with a bullish candlestick. In the morning, I predicted in the group and on Twitter that SNDK would oscillate near the dense long-term moving averages. After breaking through the 30MA at the open, the next target was the 20MA, around $1,876.

Unexpectedly, at noon, due to the Friday weekly options gamblers reviving again, the 2000 Call topped the volume list, and SNDK surged 13% at one point, even breaking through the 1,950 level. I thought the resistance line had failed and it would go to 2,000 today.

But something felt off no matter how I looked at it.

In the final hour, it was indeed knocked back down exactly as before. It eventually closed at 1,858, precisely above the 30MA and below the 20MA. Between the narrow moving averages, after such violent fluctuations, SNDK actually ended with an upper shadow, giving back all of its noon gains. I really don't know whether it was bots dominating this week's trading or if they are actually watching my Twitter to trade.

But regardless, our conclusion is simple: the bears aren't dead yet, this rebound still has a possibility of being a dead cat bounce, and the probability of sideways consolidation for a month has also increased significantly.

Tomorrow's trend will be more subtle.

Worst case: Hynix's IPO breaks issuance and siphons liquidity; below SNDK there is a gap to fill, which is the gap-up opening at today's open, at Wednesday's close of 1,737.

Best case: Hynix's listing leads the memory sector's last hurrah, a desperate counterattack. SNDK returns to the intraday high, or even breaks through 2,000.

Which one will it be? Technical analysis cannot predict it for you. We'll just have to wait and see. I personally lean slightly toward the former, with a probability distribution of 60% to 40%.

Thank you all.