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The following views are for reference only; the market is risky and investment requires caution.
09:20
Last night, the market oscillated narrowly up and down within the 63,948~64,282 range. At the start of the session, influenced by the global financial markets opening and a sharp premarket drop in US stocks, it quickly fell again and retested 63,730; even after multiple breaches, it was rapidly pulled back. After the Asian session line change at 8:00, it followed the US stocks’ rebound and surged rapidly, rising to 664,398, then quickly dropped again—breaking below 63,730 to 63,528—only to be swiftly pulled back above 63,730, and is currently at 63,952. Overall, the market has still not escaped the range-bound oscillation structure, and continues to trade in ongoing contention around the key level of 63,730. Now the oscillation range is starting to accelerate and widen. After this week’s early stabilization above 63,730, the market will continue to range upward, challenging the 64,700 previous high. If the upward momentum is strong, it may directly liquidate short positions’ chips near 65,150. If the 60K line effectively breaks below 63,730, the market will step down into a 62,460 range-bound oscillation phase, with the market entering a c4-2 decline structure. Going forward, the market’s key focus is the situation around 63,730 and whether the US stocks’ gap is filled, which will determine the market’s strength and weakness.
Market structure: c4-1
Market trend: wide range oscillation, entering a direction-selection phase
Trading strategy: mainly short on rallies; quick in-and-out above 63,730; if there is an effective breakdown, it can be held until the next range-bound oscillation. Going long requires caution—upside room is limited.