If the pancake changes lines at 12 o'clock and cannot receive above 97800, then if it goes down again, 970 is probably not going to hold. The levels below are: 963-957-953, and once it breaks below 950, it cannot be bought long anymore. There is a high probability of a rapid decline. Then we will need to observe around 930. This period of rise did not have any consolidation, so the decline is also difficult to stop. Just observe, there's no need to rush in.

2024/12/21 Nightline View
There was not much trading volume over the weekend, and the resistance range dropped to 987-10668. The big cake needs to close above 978 to resume the bullish trend. Or it can re-bottom at 970-975.
Below 970 is 963, and the death line is 951. If it falls below 951, the previous low may no longer be the bottom.
But I don’t think we need to be so pessimistic. It has risen by nearly 10,000 points, and it is normal to have a retracement of several thousand points.
Those who bought the bottom yesterday can wait and see. If the chips are not suitable, it is better to change positions than to resist hard.
It is not recommended to chase high and enter more, but to enter the market by the slope line when it falls back, that’s what it means.
At present, the slope line of the big cake has broken. It is best to wait and see for a while before entering more, and wait for the closing at 12 o’clock to see the closing situation.
It’s okay to miss a little, just don’t get trapped.