The current market state is somewhat stagnant, with weak upward momentum and difficulty in sustaining downward trends, overall fluctuating back and forth in a range.

The lack of sufficient positive stimuli makes it hard for the market to show clear breakthroughs. To break this deadlock, we may have to wait for potential interest rate cut news next month to possibly reignite market vitality.

At present, the overall trend is not clear; there are no signs of a full bull market, nor have we entered a deep bear market, but rather it resembles a back-and-forth fluctuation within a 'horizontal large box' structure.