A few pieces of news were released over the weekend, and friends who are holding no positions probably had trouble sleeping.

On the policy front, here are three concrete moves: The China Securities Regulatory Commission has relaxed restrictions for brokerages, widened their capital space, and lifted the leverage cap. This directly explains why brokerage stocks suddenly surged last Friday. There’s also movement among fund companies—a new performance assessment ties compensation strictly to results. If targets aren’t met, fund managers could see pay cuts of up to 30%; this rule is pretty tough. Insurance funds are also adjusting their risk factors, and at this year-end window, there’s a high probability they’ll be increasing positions. They’ve always favored stable products like the CSI 300, China Securities Dividend Index, and SSE 50.

Overseas data is also supportive: US inflation came in lower than expected, consumption growth has clearly stalled, and expectations for a rate cut in December are rising again.

There’s a technical detail worth watching—the ChiNext Index has recently outperformed the Shanghai Composite. Last week, it repeatedly tested the resistance at the 60-day moving average and finally broke above it on Friday. The main players are likely looking for a breakout opportunity in the ChiNext. If this rebound continues, it wouldn’t be surprising to see the ChiNext Index reach 3,200 points.

Today, the key is whether the market can hold steady, and not fall into another round of surging and pulling back.