The pancake has broken its level, testing the area around 107000 again, currently below the MA120. If this position breaks down, it will have a significant impact on market sentiment.

From the perspective of the time cycle, the market usually enters an adjustment phase in the two to three weeks leading up to the official interest rate cut from late August to mid-September; if the interest rate cut cycle starts earlier, this round of adjustment may not need to last too long to reach its target.

In the current volatile market, there is an urgent need for the market to establish a bottom through a pin action. Once a deep pin occurs, after a brief period of volatility, the bottom can basically be confirmed.

Daily operation suggestion: Plan long positions on a pullback to the 107000-107500 range, with targets successively at 108500, 109500, 110500.