Powell's hawkish remarks are just the fuse of this round of decline. The plunge the day before yesterday and the compensatory decline yesterday have caused panic in the market. This decline will continue with inertia, so there is no signal of stopping the decline. It is better to wait and see with empty positions, and do not go long against the trend for the time being. I am a living example. I have suffered heavy losses in this round of decline. Learn a painful lesson and wait patiently for opportunities!
Reviewing the weekly K and daily lines, they are extremely weak. There is no need to have a drop of 13,000 points from 108,300 to today's 95,300. This decline is incomparable to the previous two 10,000-point waterfalls. The previous high-rise fell back and smashed the market, and now it is a trend correction. The negative decline is different from the plunge and wash. The former has no bottom, and the latter can quickly recover and rebound, so the bears will go down.
What you need to do in a downward trend is to observe the rebound high point and short, rather than thinking about going long against the trend to bet on the rebound. Any rebound repair is to accumulate strength for the next wave of bottoming out. You must have an understanding of this trading idea. Now no one knows where the bottom is. We can only regard the previous low of 90,000 and 3,000 as strong support. Only if it does not break here can we consider bottom-fishing in the true sense!