This will be bottomed between 24-25 and DXY should be weakening from there to form a real overheat phase. I think we now have had a stagflation phase already for 20 months first and an overheat after it because FRB rising rates and they inverted inflation. In the overheat phase A shares will rise to pullback about 30% of the collapsing like 2008 crashing because it's inflation sensitive till the China inflation is high enough to hike. Also if the weighted JPY hikes before Renminbi then it's over too. After the Renminbi hike or weighted JPY hike, A shares will go to sleep for 4-5 years to form very very long term stagflation phase. 7 years each, and 1 year lasting. How we called it in English? "impotence"?
The DXY weakness is still supporting this chart but chose your sectors wisely in a condition where may be Yuan’s hikes. (Miners but not Maotai)