To be honest, this position has been a bit confusing lately.

Personally, I tend to think that this pullback near 80,000 might be the last test in the short term. The previous strong support logic still holds, but the monthly chart indeed makes me feel a bit uneasy.

You can see the monthly chart; the left shoulder and head outline are already faintly emerging. If it really follows the head and shoulders script, there is a high probability of a rebound early next year. However, if it rushes to around 100,000 but fails to make a new high... then this large-scale top pattern will be confirmed. Once the head and shoulders pattern is solidified, it basically means a bear market is on the way, and there's not much to be done about it.

Of course, discussing next year's matters is indeed a bit premature, and there are quite a few variables.

My current view is as follows: the weekly level may test again, possibly touching or briefly breaking the November low of 80600, but even if it breaks, it will quickly bounce back. After the second test, a rebound trend should begin around Christmas.

Then, during the period from the end of this year to the beginning of next year, there is a chance to see above 10500.

We'll see, the market will provide the answer.