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13:50
After the morning market switched lines at 08:00, it oscillated around 63,730 and rapidly surged upward. After a stop-pull-up designed to lure longs to 64,938, it quickly pulled back and saw large fluctuations. It broke below 63,730 decisively, then started a further selloff, dropping toward the target point area of 62,460 mentioned in the early session. Currently, it is stabilizing and rebounding around 62,447.
The market has now entered a 4-2 down structure. Going forward, the market’s short-term consolidation range will be 62,460~63,635, with rebound resistance levels at 662,885 and 63,375. After the rebound ends, if it breaks below 62,460 again, the downside targets are 62,017 and 61,665.

The market’s breakdown of 63,730 at the weekly-line level C4-1 signals that the rebound has ended, and it has entered the C4-2 down structure. The trend target is 58k, or even lower at 54.2K.
Market structure: c4-2
Market trend: short-term range-bound oscillation, with the direction already chosen to the downside
Trading strategy: mainly short on rallies; when rebounds meet resistance, short decisively
4-0.15%
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