Observe the liquidity chip trend over the past 2 hours:

Yesterday's 4-hour cycle saw TD sentiment reach the 9 level and then begin to rebound. However, the rebound strength was relatively limited, and the negative premium indicator remained around 80, leaving little room for improvement.

The order book above has remained basically unchanged, indicating no significant accumulation of chips at higher levels. At the 92 price level, there are scattered short orders, but the trading volume is relatively small, posing limited threat.

Looking at the lower side, yesterday's oversold condition indeed attracted many buy orders, with a significant increase in long positions. The 88-89 range has accumulated a considerable amount of long chips. The key to the subsequent trend still depends on whether the overall market can find support—if there is a lack of upward driving force, it will be very difficult to predict the market direction tonight in this area.

From the perspective of chip distribution, the short-term situation remains a tug-of-war between bulls and bears. Only a successful breakout above is likely to change the current situation.