On Wednesday, driven further by positive news in the evening, the stock market experienced a process of rising and then falling. The Shanghai Composite Index fluctuated upwards after the opening, reaching a high of 2952 points, but then experienced a certain degree of correction due to cautious investors choosing to reduce their positions at higher levels. This adjustment continued into the afternoon trading session, and although the short-selling forces weakened at the end of the day, the overall market remained in a narrow fluctuation due to a lack of sufficient buying support. It is worth noting that even though the overall market performance was not good, more than three-quarters of the stocks closed with gains, indicating that some small and medium-sized stocks received attention and support from funds, becoming one of the highlights of the afternoon market.
From the market observation, securities stocks surged significantly in the morning but fell back due to insufficient follow-up funds. Although the securities sector maintained a certain strength throughout the day, its performance was below market expectations, affecting investor confidence to some extent. The real estate sector quickly rose in the morning for no obvious reason, but as Zhongjiao Real Estate broke the board in the afternoon and corrected deeply, the entire sector also weakened.
Today's market focus was on the two major themes of big finance and net-breaking stocks. Especially net-breaking stocks have gradually formed an independent investment theme, among which Yatai Group, Zhongnan Shares, and Haxin Energy Science have become the core representatives of this theme. In contrast, although the big finance sector is still a key force in determining the market trend, its performance today was somewhat weaker than yesterday, and the number of stocks hitting the daily limit also decreased. Given the importance of big finance to the index, whether the market can warm up tomorrow largely depends on whether this sector can regain vitality.
From a technical perspective, the market closed today with a dark cross star that opened high, encountered resistance, and fell back, with a long upper shadow line, which is actually a false dark star. If the upward gap formed yesterday is considered a starting signal, then the upward gap formed today can be seen as an acceleration gap. To maintain a strong rebound momentum, it is best not to fill this gap; once filled, the subsequent rebound strength may weaken. Therefore, the current market is not enough to conclude the arrival of a bull market, and the market still needs time to transition gradually.
The market is currently transitioning from the 2nd wave adjustment phase to the 3rd wave rebound cycle, but this process requires time to complete. At this stage, we can first focus on whether the market can stand firm and冲击3000 points nearby. For tomorrow's trend, the key pressure point is around 2950 points, and the support point is around 2865 points.
News
1. The three major US stock indexes fluctuated and organized, and popular Chinese concept stocks generally fell. Unfavorable for tomorrow's opening.
2. Charging for 5 minutes and driving 200 kilometers, the first 6C fast-charging lithium iron phosphate battery will be installed in the car next year. Good for new energy, lithium battery sectors.
3. Take a lifetime securities market ban on Xia Haijun and confiscate 15 million. It is generally believed that the punishment is still a bit light, not enough to deter illegal behavior.
4. Buffett sold again! A total of nearly $9 billion in Bank of America stocks have been sold. Whether the continuous selling really means to clear out Bank of America is still unknown.Overall, since the rebound from 2689 points, the market has been rising for five or six consecutive trading days, and the high and retreat on Wednesday met market expectations. This is mainly due to the fact that after the rebound on Tuesday, it approached the important resistance level of 2888 points, and the pressure at this position is obvious and difficult to break through easily. Therefore, the high and retreat on Wednesday is essentially a reaction to this pressure position. From an operational perspective, this short-term adjustment is actually to clean up those unsteady funds and meet the technical needs, and investors do not need to worry too much. It is expected that after 1-2 days of technical consolidation, the market is expected to try to break through again. In terms of sector selection, technology stocks, especially those related to Huawei's industry chain, have performed strongly. Although they were differentiated and weakened from Monday to Tuesday, they showed vitality again on Wednesday; with the continuous good news about the Hongmeng system and the field of unmanned driving recently, there are still many investment opportunities worth exploring in these fields. However, it is recommended to avoid chasing rises and killing falls, and instead guide investment decisions based on technical indicators.