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The wave-shaped structure of the Shanghai Composite Index is relatively clear from the 5-minute chart. Yesterday, the highest point of 3494 points fell to 3416 points, which is a typical 5-wave decline. Note that there is no push here, but an irregular wedge is used to adjust. Usually, the wedge is more regular in the big cycle, and the small cycle is always messy.The highest point this morning is 3438. It is very important to remember this point. As far as ultrashort is concerned, if we can break through this point later, it means that there is a B or 2 wave backlash here, and then there will be a main decline cycle of C or 3 waves. However, if we can't even break through 3438 points, then there will often be nine waves of adjustment in the small cycle, that is, from the high point, we need to complete the adjustment cycle of nine waves alternately falling and rising, which is not very good and will have a great impact on the mood, at least indicating that the market is in a weak stage.

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The wave-shaped structure of the Shanghai Composite Index is relatively clear from the 5-minute chart. Yesterday, the highest point of 3494 points fell to 3416 points, which is a typical 5-wave decline. Note that there is no push here, but an irregular wedge is used to adjust. Usually, the wedge is more regular in the big cycle, and the small cycle is always messy.How to go next in the A-share market?