March 12th Thought Analysis

Yesterday, the overall market was in a state of consolidation, with clear signs of oscillation and tug-of-war within the day. Influenced by the CPI data release, there was a rapid surge in the evening, briefly reaching a high near 71,300. However, due to a lack of sustained buying support, upward momentum quickly exhausted, and the price failed to stabilize at higher levels. After the surge, the price gradually declined, and the market returned to a weaker trading pattern.

Observing the current overall trend, this rebound is mainly a short-term reaction driven by news stimuli and has not changed the existing correction pattern. Resistance levels above remain prominent, and the bulls lack the ability for continuous strength. From the short-term chart, the pattern of decreasing highs continues, and the market remains constrained by the bearish forces.

Based on this, short-term trading should remain cautious. During the rebound, avoid blindly chasing longs and instead focus on resistance zones to observe for potential right-side positioning opportunities.
Trading Suggestions
Short at around 70,200-70,700, with a target down to 69,000-68,500.