Hot Lean Adjustment Pressure increase

⊙ Golden Lark Investment Qin Hong last week A-share market in the concussion of the center of gravity moved up, but last week at the end of the Shanghai Composite Index in the concussion formed a high yin cross star, it seems that the A-share market again ushered in a short-term direction of choice. Moreover, as a result of the amount of shrinkage and other factors reflect the market's excitement has cooled, therefore, there is a view that a short-term market or face a certain downward pressure.　　So how do we look at this trend? Hot spots may enter the vacuum period for the weekend a-share market trend, in fact, there is a chance to further expand the rebound space. This mainly refers to China's petroleum, Sinopec and other weight stocks and the Pudong Bank and other banking stocks appear upward trend, the market "28 phenomenon" has surfaced. And in 2007 5 30 market, it is due to the rise of the weight of blue chips, so that the Shanghai Composite index not only quickly out of the 5 30 market slump shadow, but also make a a-share market to continue the bull marriage, Shanghai Composite Index is a record 6,124 points of the all-time high. So, with the rise of blue chips last week, the market is indeed upbeat.　　But unfortunately, on the one hand, because of the rise of blue chips lack of the economic cycle of 2007 as the basis, on the other hand, the lack of 2007 like the Fund issued by the most sought after the foundation of the funds on the Friday blue chip market slowly fell curtain, Shanghai Composite Index helpless to collect a yin cross. In other words, last week's a-share market in the weekend's blocked trend, in fact, shows that the market hot switch is not successful. This shows that there is such a poor pattern: on the one hand, the original hot spot is facing the aesthetic fatigue of the pressure, such as the regional investment theme difficult to overturn, such as new energy stocks, resource stocks and other varieties also because the high short-term valuation makes new funds difficult to have fresh investment passion, Therefore, the type of stocks in the short term difficult to form upward traction; On the other hand, is the weight of stocks, blue chips, including steel stocks, automobile stocks and other industries recovery stocks, the lack of a strong economic cycle of the fundamental coordination, as well as the lack of follow-up to the steady flow of funds to match, so the market hot spots are gradually lean characteristics,　　So that the market in the near future may enter hot vacuum period. Of course, there is also the view that the last weekend medicine stocks and other varieties in the epidemic development of the information under the guidance of the unexpected hot, in particular, the Rhine biological, da an gene and other varieties of continuous trading has brought a certain amount of money demonstration effect, indicating that the market is still a certain short-term exciting point. The author believes that for the trend of medicine stocks should not be overly optimistic: first, because the historical experience shows that the drug market is often short of beauty, the boom will soon return to calm; second, because the medical unit itself is also facing greater valuation pressure, in this week is very likely to appear low tide,　　To bring some adjustment pressure to the market. To balance or be broken more importantly, the multiple-space balance pattern that was formed over the weekend could be broken by new disadvantages.　　This is mainly reflected in two aspects. One is the market-driven problem. As we all know, this round of reboundThe driving force in addition to the restoration power of the initial valuation system, liquidity has been the main driver of the current round, but it has faced a certain test in the near future – not just a hard landing for credit data in April, but also the central bank governor Zhou Xiaochuan's "fine-tuning of moderately loose monetary policy over the last weekend" Information so that the funds for the subsequent funding side of a certain divergence.　　More importantly, the pressure of capital diversion has also appeared, about the Yangtze River Power will be a duplicate of the information also means that the current a-share market has stretched the funds face will face greater pressure of diversion. The second is the discussion about the phenomenon of market deviation. Although recent sales optimism about real estate and the auto industry has stimulated the long nerves of bulls, the divergence in economic recovery is still greater, according to the data released last week, and the further contraction in social consumption in early May. However, the current stock prices of small and medium-sized stock market stocks have rebounded to the valuation area last 4 May, which makes the market a certain deviation phenomenon. At the same time, the divergence between the capital face and index, and the deviation of the indexes in the technical aspects are also prominent. It also means that the market needs an adjustment to fix such deviations. Even so, the pressure of the downward adjustment of the market is fading.　　If you take into account the last weekend, such as U.S. stocks, such as the sluggish trend of the world's major stock indexes, it seems that the A-share market trend is indeed not too optimistic. However, after all, the market development is uneven, there are still weak in the trend to be brave, so as to bring investment opportunities. At present, the recent technical graphics gradually optimistic about the shares, Hainan Yedaolugui and other stocks can be tracked, and Ningbo Huaxiang, Wanfeng Owei and other shares have similar characteristics. In addition, the shareholders of the change of the expectations of Huayang technology, Fenghua Hi-Tech, star Lake technology and other stocks can also be appropriate tracking.