To add, I am not optimistic about the non-farm data, because the goals of the old man have not been achieved. The old man now wants to sing a tune of decline, and if after singing for a long time there is no decline, then it won't threaten the Federal Reserve. His goal is simply to create a decline, then a standstill, threatening the Federal Reserve. If the Federal Reserve eases up, then his goal is achieved. After that, it will strengthen all the way. This month's data is still very important. There are negative factors, but they are absolutely within a controllable range.

In terms of news, the non-farm payroll data for April will be released tonight, which has a significant impact on the market.
U.S. Treasury bonds fell by 0.33, gold rose by 1.41, and BTC increased to 974.
From a technical perspective, there is still some divergence on the 4-hour chart. Yesterday's volume was 3 billion, and today during the day it shrank to 700-800 million. Currently, at this price level, the low volume is not right, indicating that the concentration of chips is still too high, and the market generally has a bullish sentiment.
The long-short ratio remains at 0.6, but the number of bullish positions between 92-97 is still greater than those between 97-985. The liquidation price for shorts should all be above 10, while most bulls are generally at around 90.
At present, the biggest resistance upward is 985. If 985 breaks, then there are two resistance levels at 10. Downward, we have the two positions at 92 and 938.
Today, it consolidated between 964-967 for the whole day, without a breakout in volume. The main volume was at 961 and 974. This indicates that the main force is still hesitant, probably waiting for news. The dog traders have not made any moves, likely also waiting to see what the big players do. Even though there are more bulls in the 92-985 range, if we look at it longer-term, if they can break through 10 in one go, there will be more bears. So, the dog traders still need to see how the big players plan to act. If the big player wants to push up, it will directly wipe out the shorts; if not, it will eat away the bulls at 92. The current position is relatively awkward.
Based on the trend of U.S. stocks over the past two days and the inflow of funds into ETFs, the probability of a rally is quite high. To what position will it rally? I feel that it should rally to around 983 before hitting 95 at the end of the day and returning to 97. The possibility of a single push to 10 is low unless there is a collective effort from the market or at least 1 billion in incremental funds, both of which are quite difficult. At 985, it can basically absorb 700-800 million of the short positions, and then a sharp turn downward can force some bullish positions to exit, reducing the burden.