At 1:15, the Shanghai Composite Index fell further, completely engulfing all the gains after the afternoon open.

At 1:16, the indexes of the popular main lines and popular concept sectors in the two cities fell with the index and no longer hit new highs.

At 1:17, the Shanghai Composite Index fell back to 1% of the intraday increase position, the Shenzhen Index and the ChiNext Index all fell back to within 1% of the increase, and the strongest A50 Index has fallen to less than 2%, lower than the opening of the afternoon of the two market positions, at the same time, 'securities, Internet finance, military industry, infrastructure, film and television media, domestic software' hot concept of the main line of the field, some of the concept stocks on the edge, especially in the morning near noon before the closure of some concept stocks, at this moment, there are signs of exploding.

At 1:18, the leading concept stocks in the major popular main line areas also began to come under pressure, and the sell orders on the disk gradually increased.

At 1:19, the "Beixin Road and Bridge" fried board, the building decoration and building materials plate in the main line of "infrastructure", and the "Shanghai Free Trade Zone" concept plate with a strong correlation with "Beixin Road and Bridge", as well as the "reform and reorganization of central enterprises and state-owned enterprises" plate, all followed the trend and fell.

At 1:20, 'LETV' fell from the highest intraday increase of 8.11% to a 5% increase, and the intraday turnover once again exceeded the 3 billion mark.

At 1:21, the "film and television media" industry sector index strongly related to "LETV" fell below the 2% increase in the day, among which, at the same moment, "Huayi Brothers, Huace Film and Television" exploded, Ciwen Media Media, Guangdong Media, and All-Access Education...... and other sectors of the daily limit stocks, the daily limit closed orders quickly and sharply decreased.

At 1:22, this obvious main selling effect began to spread to the core of the 'securities, Internet finance, and military industry' sectors.

At 1:23, the red stocks in the two cities fell back to about 1,500.

At 1:24, the stock of "Hongdu Aviation" in the field of "military industry" was fried.

At 1:25, the leading concept stocks in the two major concept sectors of 'nuclear power' and 'military industry', 'Fushun Special Steel' also blew up and fell.

At 1:26, the entire 'national defense and military' sector index fell back to about 2.5% during the day.

At 1:27, the two stocks of Hengsheng Electronics and Oriental Fortune in the field of 'Internet finance' fell rapidly, and there were large selling orders at the level of 10,000 hands on the disk.

At 1:28, the check of 'Oriental Fortune', within one minute, the market rose by nearly 2 points.

At 1:29, on the up-limit board of 'Straight Flush', the daily limit orders were rapidly reduced, and within one minute, the closed orders decreased by almost more than 70,000 hands.

At 1:30, the "Western Securities" in the "securities" sector fell sharply.

At 1:31, the intraday turnover of 'CEFC Securities' once again reached the 7.5 billion mark, and at the same time, the intraday increase has fallen from the highest near 4.75% to 3%.

At 1:31, the check of 'Founder Securities' turned green again in the day, showing a downward trend, and at the same time, it also continued to underperform the sector index and the broader market index, and continued to lead the entire securities sector.

At 1:32, "Huaguo Construction, Huaguo Railway Construction, Huaguo Communications Construction, Huaguo China Railway, Huaguo South Car, Huaguo North Railway ......" and other Chinese prefix "infrastructure" main line weight stocks, on the disk, there were heavier main selling and selling, and with the rise of these stocks fell, "the reform and reorganization of central enterprises and state-owned enterprises", "on the road of the new era, the Maritime Silk Road", "Shanghai Free Trade Zone" and other core concept theme main line, also fell rapidly.

At 1:33 a.m., in the morning, the 'Huaguo Metallurgical Corporation' fried board that strongly blocked the price limit, on the disk, there was a fierce trading scene of long and short, and the continuous main selling and main buying of 10,000 large orders were strongly clashed.

At 1:34, after 'Huaguo Metallurgical' added 360 million funds to the fried board, it once again blocked the price limit.

And also at this moment.

After nearly 20 minutes of diving, the market began to usher in a rebound.

At 1:35, the Shanghai Composite Index returned to the 1% intraday growth mark, and at the same time, the time-sharing trading volume of the two markets also began to increase again.

At 1:36, the Shenzhen Index and the ChiNext Index also returned to the 1% mark.

At 1:37, a number of popular core sectors such as securities, Internet finance, military industry, infrastructure, film and television media, etc., have rebounded, and the corresponding core stocks and leading concept stocks have also rebounded.

However, this counter-offensive posture is in the direction of the index gradually returning to the corresponding intraday high.

It lost the motivation to continue the attack.

At around 1:50, under the failure of the bulls' strength again, several core indexes, as well as major popular sector indices, have fallen again.

At this point, the Shanghai Composite Index began to oscillate in the range of 1.5% to 1% during the day.

A number of popular stocks in the market also began to gradually digest the selling pressure on the market and gradually consolidate the internal chip structure in the index shock.

"Compared with the morning and afternoon trading sessions, the bulls' offensive has slowed down a lot!"

At about 2 o'clock in the afternoon, in the magic capital, inside the Yinghui Fund Company, in the 'Yinghui No. 1' fund product trading room, Liu Guanhai, the fund manager in charge of this fund product, sighed: "I feel that the market is in this position, and I am afraid that it will have to go through violent shocks before it can further attack 3400 points." ”

"It doesn't feel like the bulls' offensive has slowed down, but the bears' selling power has increased, right?" Next to Liu Guanhai, Yu Lei, the leader of the fund trading group, took over and said, "Mr. Liu, please see, the market's trading volume has not decreased significantly in the continuous shock trend of the index, especially compared with yesterday's disk, it is easier to see that the market's trading volume is still gradually increasing."

This shows that the new long-term undertaking funds entering the market have not changed much.

Even, it continues to strengthen.

Today's index stagnated at the intraday high and fell into a volatile situation that could not continue to break through, mainly due to the concentrated selling suppression in the market after the afternoon open. ”

Liu Guanhai heard Yu Lei's words, squinted and carefully looked at the trend of the two markets in the market, and carefully compared the volume and energy performance of the market in the same period of time yesterday, as well as the total turnover performance, and indeed found that what Yu Lei said was right, and couldn't help but ponder for a moment, and said: "It seems that it is indeed a sudden increase in the volume of selling, which can lead to the market pattern to become what it is now, but ...... Haven't the huge profits and unhedging orders accumulated in the market in the short term been almost cleaned up in the huge plunge on Monday? Why is there such a large selling force to suppress this position? ”

"The range of 3,000 to 3,500 points in the Shanghai Composite Index is originally the most serious range area of historical lock-up." Yu Lei took over and continued, "After the market plummeted on Monday, the index has been positive for 4 consecutive days now, and a lot of profit-taking and hedging orders have been added.

Moreover, the index has returned to new highs.

In the face of next Monday, everyone expects a positive market and uncertain market news over the weekend.

It is also very reasonable for these profit-taking orders and unhedging orders to sell profit-taking at this point in time on Friday, and at this point in time before the expected positive landing, and cashing in profits has avoided the unpredictable market trend next Monday.

There is also the shadow of Monday's market crash, although it has gradually weakened in the full recovery of the index...... This shadow has not completely faded in the hearts of the majority of investors inside and outside the market, and everyone is still worried that the market will come again and step back on the 3,000-point position.

So, the expectation of 'Black Monday' exists.

Many groups of funds with less high risk appetite are also very reasonable to go out first to avoid at this point in time.

In this way, these factors and funding groups are combined.

After the market opened this afternoon, the selling force in the market was significantly amplified, and it seemed very normal. ”

When Liu Guanhai heard Yu Lei's words, he bowed his head slightly, and said with a smile: "So, do you think the current market trend is completely normal, and we don't have to worry about it?" ”

Yu Lei nodded and responded: "Naturally, it is normal, I think as long as the market turnover, market trading volume, and still show a relatively strong state, and the influx of funds outside the market, in terms of chip acceptance attitude, is still positive, then ...... Even if the index retraces for a short time, it will eventually re-establish new highs and push the market to a higher position under the continuous buying of the market. ”

With the market crash on Monday, the Shanghai Composite Index rebounded rapidly and reversed the trend of the demonstration effect.

Now, he is able to calmly deal with the pattern trend of the occasional adjustment of the market, even if the index suddenly falls by several points, he will not panic.

Of course, about this confidence and confidence......

The most fundamental source is the 'Yinghui No. 1' fund product they operate, which currently holds a relatively low cost of core chips and can have a greater cost advantage to withstand the drawdown caused by market shocks.

"So, do you think we're still taking an aggressive position and just waiting to see what happens?" Liu Guanhai pondered for a moment and continued to ask.

Yu Lei thought for a while and responded: "Looking at the market trend in the afternoon, the main capital groups in the field should still be pessimistic about the market trend pattern next Monday, and they are worried that after the expected good landing next Monday, the profit and hedging orders in the market will be harvested by taking advantage of the capital undertaking effect when the good landing."

In this way, although it is a benign pullback of the entire 'bull market' phase.

However, it is also possible for us to use small positions, in this kind of benign pullback, to appropriately follow the expected performance of the main funds in the market, and make a market.

Of course, under the premise that the 'bull market' pattern of the market has not changed in the slightest, and the basic investment logic has not been shaken in the slightest.

The core and main positions of our fund should not be moved in the slightest, so as not to pick up sesame seeds and lose watermelons in the market trading operations of small bands. ”

"You can do it that way." Liu Guanhai nodded and continued, "If you keep locking your position, traders will gradually lose the sense of intraday trading. ”

Seeing that Liu Guanhai agreed to his proposal, Yu Lei couldn't help but smile slightly, and quickly turned his head and issued corresponding trading instructions to the traders.

And with the order of his trade.

At this time, the market trading hours have entered after 2:30 p.m.

I saw that the market entered the last half hour of the end of the market, and there was obviously an increase in trading volume, and the long and short trading became more intense.

Of course, in the situation where the volume can continue to climb and the bulls are fierce.

The amplitude of several core indices of the market, as well as the main lines of popular sectors and core concepts, has shrunk significantly.

Finally, when 3 o'clock in the afternoon came, the two markets ushered in the official closing.

I saw that the Shanghai Composite Index was finally fixed at 3359.78 points, up 1.02%, while the Shenzhen Index and the ChiNext Index rose 0.93% and 0.89% respectively, of which the A50 Index closed up at the 2% growth mark, still showing a trend of leading the two cities.

In addition to the performance of the major indices in the market.

The turnover of the two cities approached 790 billion, unexpectedly refreshing a new high again.

As for the main lines of the major popular themes, the performance of the main lines of the major popular plates and the major core concepts is ......

The main line of 'big finance', led by the two core sectors of 'securities and Internet finance', still led the two cities, with the securities sector index closing up 2.33% and the Internet finance sector index closing up 2.65%.

Core stocks in its main line area.

'Hua Investment Capital' is still firmly sealed on the price limit, with a daily turnover of 3.246 billion; Although the 'Straight Flush' has a large volume at the end of the day, it also maintains the form of closing the price limit, with an intraday turnover of nearly 2 billion and a turnover rate of more than 20%; 'Western Securities' rose 5.11%, 'Oriental Wealth' rose 3.75%, 'Hengsheng Electronics' rose 3.12%, and 'Great Wisdom and Jinzheng Shares' also closed the price limit.

And the intraday turnover of 'CEFC Securities' reached 11.233 billion, which also set a new high for the annual turnover of this stock and a new high for the single share turnover of the entire market.

'Founder Securities' closed down 0.49%, still leading the decline in the entire securities sector.

Behind the 'securities and Internet finance' sector, it is still the main line of 'military industry'.

Although this main line, in the end of the session, also suffered a sharp fall, but in terms of closing results, the entire 'national defense and military' sector, there are still more than 5 stocks up to the limit, 10 stocks rose by more than 5% in the day.

It is behind the main line of the 'military industry'.

It is the two core main lines of 'infrastructure' and 'technological growth'.

Among them, the performance of the two major sectors of high-speed rail, public transportation, special steel, cement, film and television media performed better, all outperformed the market index, while the sectors of "building decoration, building materials, smart phone industry chain, domestic software, and commercial real estate development" were relatively weaker than the market index.

As for the non-popular main line areas except for these core main lines.

For example, the main line areas such as 'consumption, medicine, nonferrous metals, coal, petrochemical ......' are still fluctuating with the broader market, but there is a pattern that is significantly weaker than the broader market trend.

There is no obvious trace of concentrated undertaking of core main funds, and there is no concentrated selling pressure.

Its main pattern trend has not yet formed a relatively clear upward trend, and it has not shown a strong 'bull market' pattern like the previous popular core main line. (End of chapter)