The big pancake made a rebound after a significant decline yesterday. After a dip to 1085 in the morning, it rebounded and briefly hit 1123 this morning. For now, it is maintaining a consolidation phase above 1110.

Recently, the big pancake has indeed been weak. I have to say that this adjustment range is a bit too large, from 1245 to 1085, which is 16000 points. This wave is the largest adjustment since the rise began from 744.

But at this stage, it's just an adjustment, not a so-called reversal. I still expect a wave of increases for the big pancake after this adjustment over the next three months (August, September, October), so remember to get in when the time comes.

In the short term, the big pancake still cannot stabilize above 1120, let alone 1135. I mentioned in Monday's live session that after the big pancake fell below 110,000, there would be a rebound close to 1118-1120 to short. If you managed to catch it, hold on and look downward; if you missed it, wait for the rebound to short.

Only by stabilizing above 1120 on the daily level can it strengthen and stabilize; otherwise, the priority is to short on the rebound, which is beyond dispute.

Pay attention to the two pullback points on the 4-hour level at 1108 and 1093. If both can break downwards simultaneously, the adjustment will continue, and there will be a chance to test 105 and 107. The further down we go, the more preparation is needed for the spot market!