Good morning everyone, I am Chen Kai. Yesterday, after the market experienced a decline in the morning session, it has not had a decent rebound. In fact, this sends a strong signal to everyone - the rebound lacks strength. I did not expect that it is already December, the market has reached the 80,000 range, and there are still people fantasizing about a bull return. I can only say to let go of oneself and enjoy life.

Speaking of market trends, on the weekly chart, the market has already retreated and broken through the 618 position, so this time it is clearly heading towards the previous low of 74000.

On the daily chart, it is also in a clear downtrend.

As for the short-term trend predictions, the two previously mentioned scenarios are still valid.

So now we are at a point where this decline either ends and a rebound segment starts to reach around 100,000 before declining again, or this decline goes to the previous low of 80600 before rebounding. Both expectations are possible, but there is no need to get too entangled; just wait for the market to give a signal. Still, the same saying: act on the signals you see, first eliminate what cannot be done, which is to not go long. This position at 87000-87200 needs to see if it can stabilize. If it can stabilize, then a rebound will start; if it continues to go down, then it will move towards the previous low.