Tonight, the collective announcement of control has been issued. Is this a signal of cooling down? After six consecutive days of gains in the main index, how will tomorrow's market look? Here are a few main points:

1. Silver prices continue to soar, and multiple funds issued control announcements tonight. Is this a signal of cooling down?

Tonight, the announcement from Guotou Silver LOF states that it will suspend trading from the market opening until 10:30 AM tomorrow due to high premium risk in the secondary price of the fund;

It is worth noting that this fund has previously suspended trading for one hour after opening on the 12th, 15th, and from the 17th to the 24th.

In addition, the Huaitianfu Gold LOF, which has been on a trading limit for two consecutive days, also announced it will suspend trading from the market opening until 10:30 AM tomorrow. The Guotai Commodity LOF, which has been on a trading limit for three consecutive days, announced it will suspend trading from the market opening until 10:30 AM on the 25th.

Multiple fund institutions have issued suspension announcements, warning investors that blindly following high premium fund shares may lead to significant losses, which is a proactive risk warning signal.

In the short term, with recent commodity price standards like silver, this risk warning is unlikely to achieve a cooling effect. After all, several funds previously suspended trading for one hour but resumed trading remained crazy.

This is actually the herd effect in the investment market; sometimes, the more control there is, the crazier it gets. However, after the frenzy, there will inevitably be risks.

Once the prices of futures markets like gold and silver stagnate or adjust, investors who chase high prices will certainly face losses. It actually depends on who takes the last baton.

Those with early capital naturally have no worries; those wanting to enter later need to think carefully.

2. Let's talk about a few important news points in tonight's market:

(1) First, the central bank has decided to carry out a 400 billion yuan MLF operation tomorrow;

There will be 300 billion yuan MLF maturing tomorrow, equivalent to a net injection of 100 billion, overall still aimed at maintaining liquidity easing by the end of the year. However, given the previous amount of central bank injections, the overall boost to tomorrow's market will be limited;

(2) Second, the U.S. plans to impose tariffs on China's semiconductor industry starting in 2027;

The products that the U.S. is preparing to impose tariffs on are mainly upstream raw materials, midstream integrated circuits, and downstream packaging and components, starting around June 2027. The reason for not imposing tariffs immediately is that the trade tariff has just reached a truce for a year;

The U.S. aims to threaten us into buying their H200 chips, while they continue to restrict our access to advanced chips and then push us to buy some lower-end chips, while also using tariffs to pressure our mature chip processes.

Essentially, it still limits our high-tech development and hinders our domestic substitution, while wanting to sell us lower-end products. This means that there will still be considerable variables in the semiconductor industry going forward.

Since the tax will be imposed in 2027, the short-term impact on the semiconductor industry as a whole will be limited. If tariffs are truly imposed, it will have a bearish impact on some of our more mature process chips.

(3) Third, CATL's Yichun Jiangxiawo lithium mine is expected to resume production around the Spring Festival;

This news has appeared repeatedly; the suspension of lithium mines is favorable for lithium carbonate prices. If the lithium mine resumes production, then lithium carbonate prices may fall, which is bearish for the lithium mine.

Currently, the news is that production will resume around the Spring Festival, and when it does, it is expected to be significantly bearish. In the short term, as funds speculate on lithium mines, it is more about speculation on future price increases. Once lithium mines resume production and prices fall, that is a bearish factor.

Therefore, after several days of continuous rebounds in lithium mine concepts, tonight's news is somewhat neutral but leans slightly bearish.

3. Finally, let's discuss the outlook for tomorrow's A-share market. The main index has unknowingly achieved six consecutive days of gains, and it is almost 50 basis points away from the 4000 mark.

Will it be possible to break through 4000 points with a single push tomorrow? I think it's quite difficult; it's best not to have such expectations. Instead, the market might close with a bearish line under everyone's high expectations tomorrow.

If the RMB exchange rate appreciates and breaks 7 tonight, then it is possible for the main index to exceed 4000 points tomorrow. However, the RMB exchange rate peaked at 7.0014 tonight before starting to slow down, which will limit the emotional boost for tomorrow.

Additionally, the main index has already recorded six consecutive gains. When everyone thinks it will continue to rise, the trend often exhibits a contrarian gap.

Moreover, regarding the current market, it is often the case that when you think the market is doing well, it actually isn’t, and when you believe there is risk, it ends up exceeding expectations.

Just like today’s market performance; yesterday saw a broad decline, leading to pessimism, but today saw a broad rise. After the broad rise, everyone became optimistic, but tomorrow may again see a bearish line adjustment.

My view today is to control positions or maintain existing positions to wait and observe, and not to actively strike, mainly because the main index is unlikely to continue with consecutive gains.

I also want to make clearer decisions with a broader perspective. Thus, controlling positions and passively following is more suitable than actively striking.

Therefore, there is no need to rush for tomorrow’s market. Let’s observe for another day on Thursday, and things will become clearer.