8.22 Post-Breakdown Rebound Expectations 1. The daily low at 111920 is the psychological defense line for the bulls. After a few days of hesitation, breaking this level will crush the bulls' confidence. When bulls stop out and switch to shorts, a wave of rebound and counterattack is expected. 2. Tonight is Powell's central bank meeting, which the market is paying close attention to. The higher the attention, the more intense the volatility.