The CPI data was consistent with expectations. The data was positive, which caused the market to rise slightly, but the positive impact was not large, so it eventually hit the 62K and 2.8K pressure levels mentioned above and then began to fall sharply.

This round of sharp decline has now fallen below 60K and 2.7K. Once the short-term positive impact is over, the market will be bearish again. We will continue to pay attention to the 60K and 2.7K lines and continue to go high, defending about 2%.

The first round of bearish targets is still 58K and 2.55K. When reaching the target, we will do batching and reduce positions. The remaining final positions will continue to look down to around 56K and 2.45K.