US stocks evening outlook



Firmly expect a pullback; downside room is two thousand points.
The high-level bubble finally couldn’t hold, and technology heavyweights collectively saw massive volume as they escaped. The sell pressure that had been building from the prior stretch of continuous rallying has fully played out. The Fed’s hawkish tone has kept weighing on the overvalued sectors, with US Treasury yields staying high. Crowded “hold-the-bag” positions are packed up and exiting; as long as there’s only a small bounce in the short term, it’s all a false-breakout exit window designed to lure you out.

Daily highs are consistently making lower highs; multiple moving averages are turning down in sync; the clear volume-supported breakdown signal is unambiguous. The bulls have completely lost the sustained momentum to keep pushing higher, and any small rebound can’t change the overall large-scale downtrend structure. This round of correction has ample room. The target is directly to look for a drop back to the area around two thousand points—don’t fantasize about a quick reversal.

For short-term bounces, approach the resistance zone and place short positions accordingly. Don’t blindly bottom-pick and hold long positions. All signals in the current tape are biased toward the bears. Only by following the larger trend can you avoid deep drawdowns and steadily capture the downside benefit.

First short-term resistance: 63900-64170
Medium-term strong resistance: 65500-65590

First short-term support: 62486
Medium-term core support: 61290
Deep support: around 60500
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