I looked at the market yesterday, and today it's highly likely to keep rising, but don’t expect a broad rally—right now we’re seeing a differentiated trend. During yesterday’s high-volume rebound, the brokerage sector led the charge with tech stocks supporting on the side. Although things softened a bit towards the close, overall the profit-making effect was still pretty obvious.

There probably won’t be any big moves before mid-December; there might be some pullbacks during this period, but nothing too deep. Want to see an accelerated rally by year-end? I think that’s unlikely. For those who didn’t significantly increase positions before last Thursday, I really wouldn’t recommend heavily chasing highs this week.

Over in the US market, the three major indexes dipped slightly yesterday. Large tech stocks were mixed: Tesla dropped over 3%, Google also fell more than 2%; meanwhile, Broadcom rose more than 2%, Nvidia was up 1% during the session and continued to climb more than 2% after hours. Memory chip stocks collectively strengthened, with Micron Technology surging over 4%.

Chinese concept stocks were also mixed: Baidu rose over 3%, XPeng gained 2.6%, and NetEase fell more than 2%.

In commodity futures, gold fell $23/oz, and oil futures dropped more than 2%.

Looking at the long-short ratio data, it increased yesterday, all above 1.0, with the bulls in control, which is favorable for a rebound. The long-short ratio for the ChiNext Index is greater than 1.5, which means it’s time to consider reducing positions. However, even though the CSI 500 sector closed higher, its long-short ratio actually dropped—which suggests main funds are showing signs of retreat, so be alert.