In terms of the current market situation, there's actually no need to conduct too much technical analysis...

Because yesterday's news-driven surge has rendered all technical indicators ineffective...

You just need to consider the logical aspects~ Finance is essentially a process of harvesting up and down.. Yesterday, due to favorable news, the longs naturally took profits and sold off.. The previous round of declines has released trapped positions.. and there's also the historical peak positions to avoid risks and take profits...

So a peak and drop is a high probability event...

Those seeking stability can wait for a pullback to signal a bottom before entering... The aggressive can take a small short position, remember it's a small short...

There won't be a big pullback.. The fundamentals are already set, the expectation of a rate cut in September is basically not in doubt, and a pullback to clean up the FOMO chasing the highs will allow for better upward movement. So, in this wave of pullback, focus on three key levels～～4650, 4540, 4375...

No need to consider further down, it won't reach..

4650 is the position of the 20-day moving average on the hourly chart. If it holds here, it will soon make a second attempt to hit 4900! Conversely, it will test the 10-day moving average on the 4-hour chart, and the position of the 20-day moving average on the 4-hour chart is the last line of defense; the probability is quite low, don't FOMO into shorts... Plus, with the weekend, trading volume is reduced. If a tug-of-war can form in the 4540-4650 range for more than 24 hours, don't hesitate! Go in boldly.