At midnight, the volume for both long and short sides on the Pk level was relatively calm. Trading momentum still mainly focuses on range-bound consolidation and building strength. After a round of minor pullback to digest the overbought condition, the market is currently stabilizing and ranging around 64,900. The daily long-side larger trend remains solid, with a well-preserved structure. Short-cycle momentum is gradually returning to balance. Below, 64,000 forms strong support. In terms of execution, we continue to adhere to buying on pullbacks and supporting a trend-following strategy to hit trades in the direction of the move.