The current market situation is very similar to the consolidation phase between 1720 and 1850. Right now, it's a gamble on whether we will break through or break down. The recent pullback to the lowest position around 2380, with the recent spike low near 2430, and yesterday's pullback low of 2450 not breaking down, indicates that the bottom has been rising. The highest range is around 2880. If we reference the range of 1850 and 1710 (even though they span different levels), the reference points for the range are already established.

The current position is considered low for 2850, but looking at the previous low of 2380, it’s not too low. If we see one more deep consolidation before breaking 2850, it’s not impossible. (Previously, when breaking 1850, there was still a spike back down to around 1750.) If we have to choose a direction, it leans more towards going long. Why does it feel so difficult to drop back down to around 2100?

The fluctuations in the market over the past couple of days have been exhausting, and the more tiring it gets, the more it tests human nature. A significant direction will eventually emerge, whether from the bears at the upper range or the bulls at the lower range, both are in a tough spot.

For those without positions, let’s wait together. If there’s another pullback, I will definitely enter long with a stop-loss to continue the pattern. If we truly break above 2550, I can also chase the long position on the right side with a stop-loss without panic. Now it’s a defense battle at 2500; entering without a position is torturous, and it’s better to just observe the changes.