收评：无力站回3980就无法排除回试3954-3922的可能性

Core Viewpoint - The market has shown a significant decline, falling below the 4000-point mark, indicating that risks currently outweigh opportunities [2] Group 1: Market Performance - The market closed at 3980, marking a new low for the day, with a mixed performance in individual stocks [2] - The index has shown a bearish trend, with short-term bearish advantages becoming evident [2] - The previous day's performance indicated a strong control by bears, with a warning that failure to reclaim 3980 could lead to further declines towards 3954-3922 [2] Group 2: Technical Analysis - The critical support level for the market is around 3982, and staying above this level is necessary for a bullish outlook [3] - Key trading ranges are identified, with the upper boundary at 3985 and lower boundary at 3899; losing the upper boundary indicates a weakening trend [3] - The market is currently in a state where both upward and downward movements are possible, with potential for rebounds if further declines occur [3] Group 3: Resistance and Support Levels - Key resistance levels for the market are identified at 4015, with support levels at 3954, 3946, and 3936 [4] - For the ChiNext index, the strong and weak dividing line is at 3209, with resistance levels at 3130, 3145, and 3171, and support levels at 3078, 3068, and 3050 [4] - The mid to long-term outlook indicates that maintaining above the 60-day moving average is essential to keep the bull market intact, while staying above the 250-day moving average is necessary to avoid a return to a bear market [4]