At present, the bull market continues, and the current pullback is actually an adjustment in the process of the market deleveraging and punishing those who chase highs. The market risk coefficient at this time is relatively low. The focus going forward is to observe whether the upward trend can be restored in the second half of December. It is expected that the market will enter a phase of consolidation and fluctuation in the coming days, which is considered a kind of 'garbage time'.