7.15 Market Analysis: The overall structure of the long cycle is clearly bearish, with the key near-term resistance level at 65,547 above. At this stage, the rebound and recovery momentum is relatively strong, and in the short term there is a possibility of pushing higher to test new highs. After the push to higher levels is completed, a deep pullback is likely. The preferred trading approach is mainly to set up short positions based on positioning at the higher levels.