Currently, the stability of $110,000 is not much different from last week's expectations. Even if it is briefly broken in the short term, it will quickly return above $110,000, indicating that many investors still see this position as a buying opportunity.

Moreover, from a support structure perspective, compared to above $110,000, the range of $102,000 to $108,000 has already become a very strong support level. Unless there is new negative information, and not just concerns about a rate cut in September or a U.S. economic recession, but rather more negative or substantiated information, I don't think it will be easily broken.

Currently, U.S. stocks have not only not continued to decline but have actually shown a slight rebound, which indicates that investors have not entered a very pessimistic mood. The core PCE data will be released on Friday, and this data is at least within market expectations, which will help boost investor sentiment.