The large-cap index is still unable to rebound upwards. From the perspective of technical psychoanalysis, funds with unreliable confidence will still choose to leave. However, in the case of systemic risk release, the probability of a disk is expected to stabilize. Focus on the band operation opportunities brought by the adjustment.
The trend of the disk is high and low, and the overall market is still in a weak market. It is worth noting that from the perspective of funding,ETFThe increase in the size of the fund seems to be more conducive to the operability of the weight index stocks. On the other hand, from the perspective of the participation of the hot money and the Shanghai and Shenzhen stock exchanges, it shows that the current funds seem to be more inclined to participate in the non-weighted index stocks. This shows that the current style of funds is still more biased towards the layout of the oversold rebound.
From the perspective of behavioral psychoanalysis, funds pay attention to the direction of oversold rebound, rather than focusing on growth leaders, which indicates that the short-term market operation is still based on the chip-based perspective. It also validates the point that we have put forward in recent trading days, that is, the market still needs to retreat. Therefore, our view is that the short-term market will continue to be dominated by structural participation opportunities.
On the whole, after the trend adjustment of the market in the first half of the year, most of the stock funds have been stuck, so the short-term rebound is still facing the constraints of the above-mentioned set. This is the reason why oversold stocks are more concerned about funds. From a medium-term perspective, with the gradual intervention of institutional funds, market confidence is expected to gradually recover, and a new round of intermediate rebound will be expected. This is what we need to emphasize now.
(Article source: Guangzhou Bandung)