A sluggish opening often hints at external pressures at play. Today's market movement confirms this — although it closed higher after an early dip, the intra-day volatility reveals a deeper message: the linkage effect of capital is clearly weakening.

This is especially evident in the technology sector, where such weakness is particularly pronounced. The expectation of rising storage chip prices once boosted the chip index to rebound over 1% in the early session, only to fall back by midday. Looking at CPO leading stocks, they surged more than 4% within half an hour of opening, but after 10 o'clock, they quickly plunged, then hovered around a 1% gain. This dramatic drop from high to low precisely indicates that the upward momentum from earlier is insufficient. For the broader market, it can only continue to fluctuate within a range, repeatedly vying for control.

What’s interesting here is that two sectors are showing completely different resilience —

**First is precious metals and non-ferrous metals.** After being hammered down hard yesterday, today’s rebound is quite fierce. New York silver futures surged 5% in the early session, returning to the $74 level, while copper futures rose 2.46%. This is not just a technical rebound; it’s active capital deployment. The sharp decline in silver did not scare off the bulls; instead, it attracted substantial funds to continue building positions.

**Second is commercial aerospace.** Although it was affected when the market retreated yesterday, it ultimately closed near its high for the day. Today, it continued to rise after opening, and the market sentiment fluctuations did not dampen the enthusiasm for this sector.

The performance of these two sectors actually raises a question: when the index is stuck in a stalemate, where are the real profits? The answer is clear — by observing capital flows, everything becomes obvious. Those making money do not flock to crowded areas; they have long quietly shifted to corners with real opportunities.