The market has experienced a brief pullback for correction, the first expected target has been successfully achieved, and now we start to follow the second target position.

It is worth noting that although there are some signs of a rebound in the market, this is likely to be a deceptive rebound. The daily chart shows a stepwise downward adjustment pattern, and it remains to be seen whether this adjustment can be reversed. At the same time, the scale of net capital outflow continues to expand, further confirming the current weak state of the market.

Under the influence of current market sentiment, the subsequent trend may still be under pressure. From a technical perspective, the range of 108500-109300 may form strong resistance, while key support levels to watch below are 107000 and 104500.

In my opinion, investors should remain cautious before the overall trend becomes clear, avoiding being misled by short-term fluctuations and patiently waiting for more definitive market signals to emerge.