The ten consecutive days of gains have come to an end today, but the closing was not solid—opening lower and then rising, in fact, the index fell even more than yesterday, but it didn't give the bears any breathing room, with a flawless display of elusive moves.

Let's first look at the story of trading volume. Today’s volume was 2.14 trillion yuan, a slight decrease from the previous day, but the 20 trillion yuan threshold has been crossed for three consecutive days. This is actually the most ideal scenario—neither panic selling with huge volume nor stagnation in dead water. The index closes slightly higher each day, and with such trading volume support, it indicates that the main forces are still advancing in an orderly manner.

But what’s truly interesting is the performance of different sectors. Today, funds are clearly rotating—hot sectors like robotics, batteries, chemicals, and artificial intelligence are leading the charge, while the communication sector is relatively quiet. Traditional consumption, banking, and pharmaceuticals are actually declining. This results in a situation where the CSI 1000 slightly closes in the red, but the CSI 2000 drops during the day. The real feeling among investors definitely won't be very comfortable.

Tomorrow is the last trading day of 2025, with 35 points remaining to reach 4,000, nearly a 1% increase. Honestly, it’s probably unlikely. There’s no need to obsess over whether this level can be broken—ten consecutive days of gains is already quite a rare phenomenon. If there’s an eleventh day tomorrow, that would be even less common in history.

Don’t be fooled by the numbers; understanding the underlying logic is the core.