At the beginning of a bull market, the market is always in firmness and hesitation, and continues to fluctuate.

Su Yu knows that any changes in the market and deduction cannot be achieved overnight, and the changes in the index cannot be linear, regardless of the bull market or bear market, there are ups and downs, and often in the bull market, the rapid pullback, the unexpected sharp fall, but the majority.

Extreme bullish emotional orgasms that can't last long.

When the market news is calm, and the stock prices of the core stocks of the main line of the market have hit a high level in the early bullish emotional climax, then the trend of the market divergence is inevitable.

In fact, there is nothing to be afraid of the divergence of market trends.

As long as the basic investment logic of the stocks held has not changed, and the future expectations are still increasing, then you should hold firmly and wait for the flowers to bloom.

"The follow-up market trend should slow down significantly." In Su Yu's contemplation, Li Meng stared at the plate for a while, and said, "At the same time, the active capital group of the market should also further converge to the main line of 'big finance', so that the trend of the market will become more and more hierarchical." ”

"In the case of the selling pressure of the profit-taking disk and the historical hedging pressure accumulated in the early stage is getting bigger and stronger, and it is getting stronger and stronger, the structure of the main line of chips in the market should need to be adjusted again and again." Zhang Guobing thought about it for a while, and also answered, "Next, there is a great probability, the market will still revolve around the main line of 'big finance' and replicate the volatile upward trend of a quarter from June to September." ”

"The main thing is the current market, in addition to the core main line of 'big finance', other main line areas, the underlying investment logic and future expectations, are obviously still a cut off, and cannot form a sustained strong breakthrough market trend like the main line of 'big finance'." Zhu Tianyang said, "There is also too much of the historical backlog in the early stage, even if the market's 'bull market expectations' are constantly increasing, but it is also necessary to continue to digest this part of the hedging chips, and until the overall chip structure of the market is fully converted, in order to form a sustained strong breakthrough of the general rise situation." ”

"Well, the range of 3,000 points to 3,500 points, in the past few years, the Shanghai Index has not touched it, and the hedge plate is indeed extremely heavy." Liu Yuan nodded, and also responded, "The index is within this range, and it is normal for the long and short forces on the disk to diverge. ”

"Whatever, anyway, as long as there is no problem with the investment logic of the core main line of 'big finance', won't it be over?" Wang Can laughed, "The current market turnover is generally at the 600 billion mark, and the balance of the two financial markets is also about to run to the scale of trillions, and at the same time, the 'bull market expectations' are also increasing, no matter what...... The performance of the market in the two months at the end of the year will not be worse than before. ”

"That's right." Zhao Lijun said, "The market is supported by such a strong amount of energy, and the market will not be bad no matter how you say it, and it can be seen through the disk that although many stocks are on the market, the long and short differences are not small, and the selling force continues to increase, but the long power to undertake, the capital group that takes the initiative to undertake, and the incremental capital group that newly enters the market, is also continuing to increase and increase." ”

"The divergence between long and short is actually a source of driving force for the development of the market." Zhang Guobing thought for a while, and then said, "The birth and continuation of the market was originally moving forward in the constant doubt and affirmation of funds, and the real consensus expectation did not last long. ”

When Su Yu heard Zhang Guobing's words, he bowed his head slightly, appreciated it, and said with a smile: "The market is always born in despair, always marching in doubt, always accelerating in the time of emotional unity, and always peaking and ending in madness...... It just shows that the performance stage of the current market is just in the early stage of the bull market, and it is far from the time to worry. ”

The discussion between the crowd......

The market trading hours have unconsciously crossed 11 o'clock in the morning.

When the two markets entered the last half hour of trading session before the midday closing, the market pattern of the two markets has become more and more obvious.

First of all, the securities sector and the Internet finance sector, the indices of the two core popular sectors, are still slowly raising their center of gravity and slowly refreshing the new intraday highs in the continuous shocks.

Then, the core sector of the main line of 'science and technology growth', the 'film and television media' sector, can still maintain a relatively strong state, oscillating at the intraday high, although the plate index has been unable to continue to attack, open a new intraday height, but the constituent stocks in the sector field, many concept stocks, are still continuing to perform, one after another to pull up, one after another.

Finally, the rest of the non-core mainline areas.

During this time period, it is already a pattern trend of continuous volatility and gradual downward correction.

Among them, the main line of "infrastructure" and "military industry", compared with other core main lines of the market, is more weak, significantly underperforming the market index, and the relevant major industry sector indexes have also pulled back and fallen underwater, especially in their fields, the two city concept leading stocks with high market attention, "Blue Stone Heavy Loading" This check did not open the space for continuous rise at the beginning of the session, and has fallen into the decline position of 3 points underwater.

In terms of indices......

The Shanghai Composite Index still continues to fluctuate around today's opening point and the position of the gainer; The Shenzhen Index and the GEM Index have fluctuated and fallen, and have returned to near the flat position; The small and medium-sized board index has fallen slightly underwater in the same shock and fall, and there is no strong momentum; The A50 index followed the trend of the securities sector, the insurance sector and the banking sector, gradually fluctuating and rising, and continued to refresh the intraday high, ranking first among the major indexes, up more than 1%.

"The market is differentiated, and the market volume is capable, and in this period, compared with yesterday, there is no trace of continued expansion."

Noting that the main line of the market performance is getting stronger and stronger, and whether it is a stock or the performance of the index, it has shown an obvious differentiation trend.

"After the index broke through the key threshold of 3,000 points, the frenzied market concentrated on the long sentiment, which must not be maintained forever, the index and the main line of the market, gradually differentiated, is the norm, I think...... It's not surprising, and there's nothing too much to worry about. ”

"Yes, not to mention this index point stage, the market is already heavy hedging, just say that the market has skyrocketed for so many days, and the sell-off of short-term profit orders will inevitably lead to market differentiation."

"Hehe, in this position, differentiation and digestion of a wave of chips, consolidate the overall chip structure of the index near the 3000 point position, I don't think there is anything bad, as long as the index is still maintained above 3000 points, and in the continuous shock, it can gradually create a new point height, then the pattern of the market's 'bull market' has not changed, and there is nothing to worry about, just continue to make a market around the core main line."

"I feel like I'm back to the familiar rhythm of 'infrastructure' and 'military industry' gradually pulling the market, and other main lines differentiating and fluctuating, but this time...... The core main line driving the market has changed from the previous main line of 'infrastructure' and 'military industry' to the main line of 'big finance'. ”

"Well, that's right......"

"Although the overall market is a bit differentiated, the main line of 'big finance', whether it is a strong securities, Internet sector, or a relatively weak banking and insurance sector, the consistent long-term integrity is still very strong, and the signs of differentiation are not so obvious."

"The performance of the core main line is definitely different from the performance of the non-core main line."

"Hehe, at this time, you can really see that those stocks are the core leaders, and those stocks are the fake leaders."

"This is the best time to distinguish between strong and weak stocks."

"Agreed, that's the truth."

"I feel that even if the index enters a pattern of differentiation and shock, according to the market's still strong bearing force, and although there is no expansion, but there is not much attenuation of the market volume can perform, I estimate that the index will most likely not easily step back on the support line of 3000 points, and it is unlikely to make up for last week's gap."

"The gap below 3000 points is the most important support for the 'bull market' pattern, this gap is obviously not fillable, once it is filled, the overall market structure of the market, can change."

"There's no way to fill that gap, right?"

"Unless from last week, the main line of 'big finance' that has broken through for days has fallen back to the original point, otherwise it is impossible for the index to make up for the gap below 3,000 points, but ...... the core investment logic of the main line of 'big finance', as well as the fundamental logic, in the case of the market volume can explode to this point, and the balance of the two financial institutions will quickly impact the trillion scale, in the case of the central bank with a high probability of continuing to relax the monetary system and make monetary easing policies, it is basically impossible to fall back to the original point, not to mention ...... In the past week, at least tens of billions of incremental funds have been added to the main line of 'big finance', and these incremental funds have formed a complete transformation of the chip structure of the entire 'big finance' main line. ”

"The main line of 'big finance' fell back to the original point? Hey...... It's almost like the Arabian Nights. ”

"But no, I don't know how many incremental capital groups there are at present, and how can the core chips fall back in the main line of 'big finance'?"

"In general, with the continuous shock of the 'big finance' line to support the market, it is impossible for the index to step back on 3,000 points and make up for the gap below 3,000 points."

"The core main line of 'big finance' is naturally no problem, but the two popular main lines of 'infrastructure' and 'military industry' in the early stage are very likely to continue to pull back, which will drag down the index."

"The two main lines of infrastructure and military industry should not fall deeply, right?"

"I also think that the two main lines of the plate do not fall deeply, after all, the macroeconomic strategic plan of the 'new era road, the maritime Silk Road', the news is good, or continue to strengthen, not to mention the "reform and reorganization of state-owned enterprises and central enterprises" and the concept of the major "free trade zones" is good, but the current internal bargaining chip structure of the two main lines of "infrastructure" and "military industry" is scattered, and it needs to be re-condensed and re-gathered...... The strength of capital undertaking in these two main areas has always been not weak. ”

"The two main lines of infrastructure and military industry are just that the stock price has risen in the short term, as long as the fundamental expectations have not changed, and the macroeconomic strategic planning of the 'new era on the road and the Maritime Silk Road' is still strengthening, I think the market of these two main lines will have to go forward sooner or later."

"In general, the Shanghai Composite Index has broken through the shackles of 3,000 points, and the market will not be worse than before."

"The market volume of 600 billion can be supported, even if the market trend is differentiated, and the money-making effect is worse than a few days ago, it will not be much worse."

"Continue to rely on the main line of 'big finance' to make a market, and you can also make money easily."

"Yes, continue to work in the securities and Internet finance sectors."

"Staring at the check of 'CEFC Securities', I think that as long as the super-weighted stock of 'CEFC Securities' can continue to hit the intraday height and continue to hit new highs in stock prices, then we can continue to do it aggressively."

"Depending on the situation, the amount of today's 'CEFC Securities' check will not be less than 7 billion."

"On the whole, in the entire main line of 'big finance', except for a few stocks that have other bearish direct hits, other stocks do not have to worry."

"Not only 'CEFC Securities', 'Western Securities' in the height of the 6 boards, today has been around the intraday high point in the continuous shocks, simply do not give the adjustment of the relatively low level of entry opportunities, although the check today's board is unlikely, but the strong performance of the stock price, there is still no change, it is expected that this check, the follow-up can continue to rise, open up a new height space."

"However, in the first two trading days, the line of 'technological growth', which once showed a continuous breakthrough trend, is indeed a bit of a problem today, and the major core sectors in its field, the main capital flow, are basically showing an outflow state, and many core stocks, the initiative to undertake the financial power on the disk, is not able to suppress the selling."

"The trend pattern of the 'science and technology growth' line is obviously still too much worse than the 'big finance' line."

"Not at the same level, from the perspective of the overall market form, the core of the main capital group, the target of the attack, is still around the direction of the main board, especially the weight of the main line of 'big finance', the line of 'technology growth', there are indeed some capital groups in the concern, but it is not the most core hot spot in the market performance."

"The line of 'scientific and technological growth' is most likely not substantially out of the breakthrough situation, right?"

"Apparently not!"

"I feel that the line of 'technological growth' has to be stepped on and adjusted in the future."

"It is better to follow the trend and continue to do the line of 'big finance' than to pursue the line of 'technological growth'."

"That's right, it's better to follow the core main line of Mr. Su's position, do the sector with the strongest market consistency expectations, the strongest individual stocks, and make it easier to make money."

The news in the group was rapidly refreshed, and the big investors expressed their views on the market situation.

At the same time, everyone has gone to the weak and stayed strong, further focused on the main line of the market's 'big finance', and further adjusted their positions to pursue the leading stocks that can still perform strongly, and gradually shake and refresh the new intraday high.

The market is trading at 11:30 a.m.

The two markets ushered in the moment of midday closing.

I saw that after half a day of shocks, the Shanghai Composite Index is still no obvious difference from the point at the opening moment of 9:25 in the morning, while the Shenzhen Index, the Growth Enterprise Market Index, and the Small and Medium-sized Board Index have fallen back to a certain extent compared with the opening of the morning market, and basically closed in a flat or slightly falling form.

Only the A50 index is in the continued strong performance of 'big finance'.

It closed at a gain of 1.05% and still led all the major core indices in both markets.

As for the performance of the main core main line market, the main line of 'big finance' is unbeatable, especially the securities sector and the Internet finance sector index, which still rose by more than 2%, leading the industry sector and concept sector in the two cities.

Among them, market investors have paid great attention to the core of a number of leading stocks.

'Bluestone Heavy Equipment' closed down 4.48% at midday, with a half-day turnover rate of 33.45%, and the weak form is clear at a glance; 'Western Securities' rose 6.35%, still maintained at a high intraday shock, with a half-day turnover of 2.287 billion; 'Flush' rose 7.11%, with a half-day turnover rate of 18.43%, and the rest of the 'Hengsheng Electronics, Jinzheng Shares, Oriental Wealth, Oriental Securities, and China Investment ......Capital' are popular leading stocks, which have risen by more than 4% in the day, which can be said to have maintained a strong state and continued to outperform the market index significantly.

Such a midday close......

As a result, among the market investor groups, the extremely hot bullish sentiment of chasing at a high level has fallen.

However, there has been no change in the positive entry attitude of the main capital groups outside the market, as well as the active attitude of the major core and main institutional groups in the market to increase and adjust their positions, and there are countless institutional analysts, financial Vs, financial media commentators, and well-known stock commentators outside the market...... The group, during the lunch break, in the review speech for the market, was still brainlessly bullish on the market, singing long 'bull market' in an all-round way.