Yesterday, the three major stock indexes collectively opened low in early trading, first suppressed and then rose, and the amplitude intensified, but the upward attack was weak, and then ** lower, all closed in the green. The turnover of the two markets on the market was 647 billion yuan, which shrank by 4% compared with the previous trading day. The daily chemical, food and beverage and hotel catering industries led the gains, while the media, Internet and IT equipment sectors led the decline, and the median increase in the two cities was -076%。The stock index hit a new low in this round of adjustment intraday, the volume and energy shrank, the trading atmosphere was sluggish, but the decline slowed down, and the momentum of killing the decline weakened significantly. Northbound funds are net **6 throughout the day900 million yuan, of which the Shanghai Stock Connect net **25.7 billion yuan, Shenzhen Stock Connect net **43.3 billion yuan.
From a technical point of view, the main board index has shrunk horizontally, and the system has diverged downward to show that the weak state has not been improved. After the simultaneous resonance of the small and large cap stock indexes on Tuesday, they showed a mixed sideways bottoming characteristic in the hourly cycle. The GEM took the lead in confirming the signal of stopping the decline and stabilizing, and other indices are only one step away from the resonance of stabilization. The index of the horizontal movement is conducive to the further bonding of the system, and the subsequent weak to strong will effectively promote the establishment process of the daily indicator to build the bottom divergence. The small- and mid-cap stock index simultaneously refreshed the new low of this round, and the multi-cycle indicator entered a low level, but did not show a divergence and bottom pattern. The confirmation of the pullback after the reversal of the medium-term trend does not show the end signal, the overall rhythm is relatively lagging behind, and it will take time for the indicator to be repaired and transmitted step by step.
Overall, the downturn in the market has not yet improved, but the downside of the stock index has been compressed to the extreme. The amount of energy in the field is weak, the stock index is weak in the upward attack, and the downward trend also lacks the momentum to kill and fall, and the divergence in the stock game has weakened, and the long and short have entered a short-term equilibrium state. There is no clear news affecting the market on the over-the-counter news side, and the market data in the after-hours period shows that the CSI 300 futures index varieties, and a number of contracts have a net long order increase and a short order to reduce the situation, which is conducive to short-term sentiment repair. The technical indicators show a stage of transition from stopping the decline to stabilizing, and there is a basis for further upward resonance to the large cycle after a short period of bottoming. With the passage of time, the market is about to enter the annual report disclosure period, and there have been announcements of companies with pre-increased performance in the near future. In the stage when the overall valuation of the market is low and the risk is fully released, the industry with stable performance growth and the best industry has more growth value. With the Shanghai Stock Exchange below 2,900 points, it is strategically appropriate to maintain the initiative, be more patient with swing and medium-term positions, and wait for the arrival of the market recovery with the accumulation of positive signals.
Disclaimer: The strategies and cases mentioned in the article are all excavated after my review and thinking about the market, without any subjective tendency, written only as a sharing of ideas, throwing bricks and jade technical exchanges, not as a suggestion for any person to operate.
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