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The following views are for reference only. The market is risky; investing requires caution.
05:35
After the market saw a stop at the peak around 66,920 and then continued to consolidate and decline, it started accelerating downward since last night. Currently, it is weakly ranging around 64K. In the next phase, focus on 63,700, 62,560, and 61,800 for downside. If it breaks below 6,180, the downside targets are 59,530 and 58,285. The market structure at the daily level has entered a C5-1 downtrend, and the weekly level is C4-2. The overall big trend is still in a bear market structure within the C4 wave down phase. Any good or bad news can only delay or accelerate the decline; it absolutely cannot change the essence of the bear market selloff. With crude oil prices staying high and returning above $90, plus high inflation driving expectations of rate hikes, the U.S. stock market topping, Japan’s rate hike being brought forward, and a series of other factors, it will be difficult for the market to see a major upward trend and rally in the short term.
Market structure: C4-2
Market direction: range-bound and downward
Trading strategy: mainly sell on rallies; watch the 61,800 area—if it can’t break lower, close the short; after a daily-level rebound, continue waiting for opportunities to short