No time to waste, A-shares are about to open (ChangXin is listing today, let the blood-sucking begin) This past week has been pretty tough to navigate. The market kept baiting people with fake rallies, and quite a few got trapped. First off, this rebound felt a bit weird. Normally, a V-shaped recovery should see widespread gains on the day, but instead, there were more stocks declining than rising. Based on past experience, after such a long period of sharp declines, any rebound should at least bring two or three consecutive days of broad gains—but that didn’t happen. Looking at the All-A Index, we finally saw a broad rally and it managed to climb above the 5-day moving average, but trading volume shrank noticeably. Friday’s big red candle basically confirmed that Thursday’s rally was just a trap. Both the ChiNext Index and STAR 50 Index also broke below their 5-day moving averages, undoing all the previous progress. Since the 5-day moving average is still acting as resistance, there’s a high chance we’ll see another dip to retest the previous lows next week. The support at that level is relatively strong, so it’s worth keeping an eye on.