Last night, the three major US stock indices opened with some "awkwardness"—mixed gains and losses, and the storage concept was actually hammered down. However, Chinese concept stocks performed quite well, with the NASDAQ China Golden Dragon Index rising by 1.09%. The US dollar has been quite strong these days, rising for three consecutive days. Gold prices pulled back slightly, but crude oil surged significantly, showing a typical market divergence.

Turning to the A-shares market, yesterday was characterized by narrow fluctuations throughout the day, with the ChiNext Board bearing the brunt. But you need to see the sector differentiation—military industry rebounded strongly, commercial aerospace concepts exploded again, and the heat around brain-machine interfaces and controllable nuclear fusion continues. Large financials and non-ferrous metals faced more pressure, but in terms of the number of stocks, there were far more gainers than losers. Trading volume slightly shrank to around 2.5 trillion yuan.

A key detail: policy support is also in place. The "Implementation Opinions on 'Artificial Intelligence + Manufacturing' Special Action" issued by eight departments have just been implemented. The country's first offshore reusable rocket recovery base has started construction in Qiantang, Hangzhou. Additionally, a nuclear fusion energy technology and industry conference will be held from January 16 to 17—these events have given a boost to related concept stocks.

From a technical perspective, the short-term adjustment cycle is generally about 3 days, and this wave is already approaching the end of its rhythm. Once a volume-driven bullish close occurs, it’s easy to see another rally—this is a typical sign of strength. The probability of continued consolidation today is relatively high, so it’s recommended to wait until after the morning session to decide on the next steps.