Li Xin said secretly: "It doesn't seem to be able to go up, could it be that today's trend is to rise and fall?"

When the Dow Jones Industrial Average fell to the round number of 9490, it rebounded slightly, and at 22:03 the index rebounded to 9589.

However, such a rebound did not change the overall downward trend, and at 22:14 in the evening, the index fell further to 9498 points. After that, it was more than 20 minutes of back and forth, and the highest rebound was 9553 points. Then from 22:30, there was another wave of even faster decline, the index fell rapidly from 9553 points to 9328 points at 22:46, which is 59 points, or 0.63%, compared with yesterday's closing point.

At this point, the 4.36% gain made by the Dow Jones within two minutes of the opening at 9:30 has been swallowed up.

With the fall of the Dow Jones index, the price of copper in London also fell back to $5,208 at this time, which is only 0.73% higher than yesterday's closing price of $5,170. This is a fraction of the 8.6% increase it had set at 21:32 just over an hour earlier.

Although there are still several hours before the closing time of the London copper price and the Dow Jones Industrial Index, Li Xin, who has a lot of trading experience, can basically judge that their trend today should be the one he just had when he saw the trend of the London copper price and the Dow Jones Industrial Index. With such a toss tonight, it will be difficult to estimate it by a large margin in the next time.

Because from the perspective of traders' mentality, if the bulls have the confidence to fight higher today, the more than half an hour after the opening should not be such a trend.

And from the point of view of the bears, if they did not have confidence, they would not have hit the price and the index so low in the process of pulling up at the top of the market after the opening of the market today.

In short, no matter from which point of view, for more than an hour after the opening of the Dow Jones Industrial Index at 21:30 yesterday, the trend of the tick chart is quite steady and steady, and the signs of bears suppressing the highs are very obvious, while the signs of bulls going long on the dips are very rare.

Li Xin is secretly glad that there is no trading of copper metal in the domestic futures market during this time period, otherwise it is very likely that it will also get out of this trend of rapid rise and then rapid decline in a short period of time.

Wednesday, October 15th.

Li Xin turned on the computer early in the morning to check the closing of the Dow Jones Industrial Index and London copper prices last night.

The Dow Jones Industrial Average closed last night with a small black candlestick with a long upper and lower shadow. Its highest point was 9794 points set at 21:32 last night, this intraday high was 4.26% higher than the closing point of the previous trading day, and the lowest point was 9085 points, the lowest point of the day was actually down 3.21% compared with the closing point of the previous trading day. Although the index rebounded to 9,310 points at the close, narrowing the decline to 0.82%, this trend has clearly announced that the rally led by the 11.08% long white candlestick on October 13 has come to an end. The Dow Jones Industrial Average is likely to continue to be suppressed by the 10-day moving average.

Copper prices in London moved significantly stronger than the Dow Jones Industrial Index, closing a small white candle with a long upper shadow and closing at $5,300, up $130, or 2.51%, from the previous session.

However, Li Xin feels that the influence of the Dow Jones Industrial Index in the global financial market is much stronger than that of the London copper price, which is obviously proved by the fact that the London copper price has been following the trend of the Dow Jones Industrial Index during this period. Now that the Dow Jones Industrial Average has closed in the negative, the expectation of a future decline has further increased, and in this case, the price of copper in London will not rise.

There is another reason why London copper closed a small white candle yesterday, that is, London copper closed at 2 a.m. last night, while the Dow Jones Industrial Average closed at 4 a.m. The Dow Jones had fallen sharply before closing, with a maximum decline of more than 3.26%, although the decline narrowed at the close, but the long lower shadow line shows that there is still a lot of room below. Under the influence of the sharp intraday decline of the Dow Jones Industrial Average last night, perhaps today's round of copper will make up for the loss.

At 8:00 a.m., London copper opened.

The opening price of London copper this morning was $5,275, although the opening price fell little, but in just 10 minutes after the opening, the price quickly fell from $5,275 to $5,164, a decline of 2.56% compared with the closing price of the previous trading day.

By the time the domestic futures market opened at 9:00 a.m., the London copper price had fallen to $5,087. This point is already approaching the 5-day moving average of $5,053, and a little further down it will fall below this support line, at which point the decline has extended to 4.02%.

Li Xin, who has seen that London copper prices have come out of the high and falling, and is ready to step back on the previous lows, now believes that after the domestic futures market opens today, copper prices should also fall sharply.

But what he didn't expect was that the market surprised him far more than he hoped.

At 8:59, the opening price of the call auction in the domestic futures market was 41,800 yuan, which was only one step away from the falling limit. After the official opening at 9:00, the price was instantly pressed on the falling limit of 41,720 yuan.

The copper price in the domestic futures market once again fell to the limit, which also drove London copper to continue to decline. At 9:05 a.m., London copper fell below the $5,000 mark and came to the $4,998 position, extending the decline to 5.69%.

The price of domestic futures copper continued until 14:04 in the afternoon before it was briefly broken, rising to 41,780 yuan, and a minute later it was pressed again on the 41,720 yuan limit.

At 14:19, this scene appeared again, the fall limit was opened again, this time the price rose to a maximum of 41,900 yuan, the price fluctuation lasted for about 5 minutes, and at 14:24, the price returned to the fall limit again.

Since then, this price has continued to the end of the day, the last minute before the close, the price was pulled up 10 yuan again, closing at 41730 yuan, compared with the previous trading day down 1420 yuan, a decrease of 3.29%.

At this time, the price of London copper was $4,969, down $331, or 6.25%, from the previous trading day.

Today's domestic futures copper closing price of 41,730 yuan is a day later and returned to the fall limit of 41,690 yuan on October 13, which once again verified Li Xin's judgment: the price will step back on the previous low after the price rises.

Originally, he only thought that copper prices lacked upward momentum, and they would fall back after the rise, and even did not rule out the possibility of a sharp decline, but he did not expect that it would be such a close to the fall limit today, and it would come so quickly.

If today's copper price is only a moderate pullback, then the price is likely to return to the previous low of 41,690 yuan on October 13 after two or three trading days of shocks, which is the rhythm of shock bottoming.

But now a day later, there is another down limit, and it immediately returns to the vicinity of the previous limit two days ago. Such a move shows that the bulls are not confident, but the bears are confident, otherwise such a movement would never have happened.

Such a trend also shows that the low point of 41,690 yuan ahead is likely not to be the lowest point in the near future, and the lowest point should be in another position, and it is likely to be far away below 41,690 yuan.

If the recent low point is the line of 41,690 yuan, will the bears have the courage to step on the price limit today on the premise of hitting the limit yesterday?

Anyway, Li Xin put himself in his shoes and thought about it, if he was a new short side or a short side who increased his position in the last one or two days, if he only saw the recent low point near 41,690 yuan, not to mention that he didn't dare to enter the market at this price today, even if the price was on the price limit yesterday, he didn't dare to short.

The first question now is not to consider whether to close the position, but to think seriously about where the lower low may appear after today's fall limit.

The market is really changing rapidly, yesterday Li Xin was still worried about whether 41,690 yuan was the bottom, how long would it take for the price to step back on the 41,690 yuan line after the sharp rise yesterday, leaving time and space for himself to close the position.

But now, Li Xin has seen the possibility that the price he said before will fall below 40,000 yuan, and now the question is how much lower the real bottom will be lower than 41,690 yuan.

At 21:30 in the evening, the Dow Jones opened at 9301 points and then fell rapidly, and fell to 9138 points just two minutes later, down 172 points, or 1.86%, from the previous trading day.

Although the subsequent trend was not as fast as the decline after the rapid rise in the first two minutes of the opening of the previous trading day, it only fell gradually, but over time, the cumulative decline was also considerable.

At 23:25 in the evening, the Dow fell to 8926 points, a decrease of 384 points, or 4.13%.

And that's not all, by 2:00 a.m., the Dow fell to 8,793 points, down 517 points, or 5.56%. At this time, the Dow is almost a bald and barefoot big black line, the lowest point of the day is the current point, and the highest point of the day is 9308 points, which is estimated to appear at the moment of opening, because there is no such a high point on the time-sharing chart.