It's natural to see a drop after a long-time rally. The index may further decline in the week as investors trim positions but will probably gain support at the 1,330 level.
The broad market has a good long-term prospect as there is an abundant supply of funds and on China's booming economic growth. But I expect the index may still move in a narrow range now as institutional investors unload some of their positions and buy others.
The market still faces pressure when it heads towards the 1,300 level. It may fluctuate in a narrow range this week, waiting for more stimulus from the regulator.
Blue chips were sought after yesterday after the recent correction. But you will probably see the index move in a narrow range before any stimulus is launched to bolster the market.