Update the thinking for this Monday. The fluctuations over the weekend were significant, and this morning we retraced to the $3000 mark. For now, we can tentatively determine this as a secondary bottom-testing action from the weekend. The early morning retracement on Monday is a way to harvest the liquidity from the weekend's two days, which is an unchanging principle.
Currently, in the short term, we maintain a strong stance. On the hourly level, we are still in a bearish adjustment phase. Therefore, this week there is still a need to test the bottom in the 7.8-7.6 range, and the market is relatively quiet at present, which I think is a good sign. When most people give up resisting, the bottom-building action will come unexpectedly. After a slight stabilization of the U.S. economy, any minor positive news will boost market confidence. I remain optimistic about the future market, but in the short term, we must focus on medium and short-term strategies, always maintaining a sense of reverence for the market.
Now, let's talk about today's intraday short-term strategy. Around 85400, there is pressure. Looking at the market, it is currently in a phase of increased volume, with significant fluctuations but no breakthrough. The bottom is gradually rising. Based on this expectation, the intraday first-line pressure is in the 8.77-8.71 range, which can serve as a short position conversion point. A small position can be tested here. If there is continued volume in the evening leading to a drop, the position around 81000±100 points will serve as first-line support, which is also a small-level wave 3 node. Aggressive traders can try a small position here. Whether up or down, decisions should be based on pattern judgments, breaking through resistance and support as necessary.
Support: 81100/79800/75500
Resistance: 85200/87700/92400
