Recently, I want to share some observations with everyone. In the past two days, there have been many voices calling for orders in the market, almost all encouraging chasing the rally. But I have always maintained my judgment—insisting on being bearish.

Actually, since half a month ago, I have been emphasizing that the overall trend is bearish. It needs to be clarified that a bearish long-term trend does not mean short-term rebounds cannot be traded. There is indeed room for short-term operations, but the underlying logic is clear—the trend over the next few months or even half a year is likely to remain under pressure.

The recent market movements have just validated this judgment. Since the night before last, anyone who kept up with the rhythm has seen gains. But take another look—has anything really changed because of these rebounds? No. The key to accuracy still lies in distinguishing between short-term fluctuations and medium-term trends.

Many people are eager to catch the bottom, but actually, there’s no need to rush. Good trading opportunities are not about chasing but about waiting. Wait until the position is low enough and the signals are clear enough before taking action; only then can you truly control the risk.