These should be judged comprehensively, not by one or two indicators. It can only be said that there is such a situation, that is, short positions in futures will be forced to close their positions, and there will be extreme markets when they are forced to close their positions. For example, as you said, there will always be some big funds that do not stop loss. If they don't stop loss, the short sellers can't close their positions with a large number of empty orders because they need a large number of buyers to take over. If the bulls have been uneven, then the bears can only deliver the spot in the month, and the bears generally don't want the spot. The only way is to forcibly open a position until the bulls buy it.

Generally, at this time, one or several large orders will suddenly go out of the warehouse, which is often a time of panic, but after the big orders come out, they will often be pulled up immediately, and a long shadow line will generally appear after the closing.