As the year-end approaches, the market overall presents a typical oscillation pattern. Today, the index opened lower and gradually moved higher, but the momentum in individual stocks was limited—this reflects both the phased profit-taking pressure and the divergence in market participation after continuous rises. Technically, the core support level is around 3936; whether this level can hold directly determines the subsequent direction. If 3936 holds, there is still a chance to test the 4000-point level upward. Using the W-shaped neckline distance logic (3936-3815=121 points), the theoretical target can be seen near 4057. Of course, the key premise is that the 3936 line must be maintained.

From sector rotation, commercial aerospace continues to be strong, but from the daily chart, a 3-5 day acceleration trend has already been in place. By the fifth day, divergence has become obvious, showing signs of a pullback after a high. In this situation, the short-term rhythm of the sector may adjust, with a higher probability of evolving into a range-bound oscillation along the 5-day moving average. The real investment opportunities still lie at the individual stock level—those with sustained capital inflow are worth paying attention to. The ability to identify the high points and low points is the ultimate test of stock-picking insight.

Looking ahead to December, commercial aerospace will undoubtedly continue to be the main focus, while other sectors mainly rotate in succession. For example, digital currencies also perform relatively well in the short term, but the sector effect is still somewhat insufficient, often driven by news and with uncertain capital recognition. Overall, the year-end is likely to see repeated oscillations within this central range, and whether the key point at 3936 can be maintained will serve as a litmus test for market strength.