7.28 midday market thoughts: bears firmly control the board and actively hold the initiative!

Those who were still fantasizing about a continued counterattack and chasing rallies to go long—are they all silent now? The market has slid steadily; the prior high at 66,924 has become an insurmountable mountain. The more optimism people had for a big rise before, the more passive they are now.

After rolling over and falling from the high near 66,924, the trend turning point has long been visible. I analyzed the bearish setup in advance and thoroughly. A few short-term repair bullish candles misled a large number of people. Many mistook the brief breathing room during the decline as a reversal signal, completely ignoring the layers of sell pressure overhead.

At present, the modest rebound is only a technical breather after the big drop. The 64,423 Bollinger middle band forms extremely strong resistance, locking upward room tightly in place—making it difficult for bulls to sustain a push.

Every time price rebounds upward, it’s an excellent opportunity to set up shorts in line with the trend. Blindly chasing a bottom to bet on the rebound will only end with being repeatedly shaken and dragged into passivity.

The market never caters to subjective fantasies. Only by reading the big trend and operating in sync with the market’s rhythm do you have a chance to capture volatility-driven upside. Once your directional judgment goes off, no matter how frequently you trade, in the end it’s all wasted effort!

Entry range: price rebounds to 64,300-64,550 and stalls under pressure—go short in line with the move
Defense level: 64,780
First target: 62,800
Second target: 62,505
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