At 9:16, after a rapid change in the market in just one minute, the initial call auction pattern of the two cities at this moment became more obvious.

I saw that the hot industry sectors related to the two core main lines of 'big finance and big infrastructure' opened high across the board.

"Large consumption, non-ferrous cycle, petrochemical, coal, pharmaceutical and commercial ......" and other industry main lines that yesterday set into a lot of short-term capital groups, related industry plates, concept plates, basically all have shown a slightly lower opening trend, especially the "coal" sector, under the influence of the continued decline of the black futures market last night, it was directly lower than 1% of the decline.

The performance of popular stocks, weighted core stocks, and industry leading stocks in the two cities.

'CEFC Securities', the main line of 'big finance', and even the absolute weight of the core stocks in the securities sector, initially opened at a rise of 0.79%, and in terms of real-time disk performance, the active longs undertook the order, which was slightly larger than the sell list, and the stock price showed an upward call bidding trend.

The popular leading stock of the securities sector of 'Hua Investment' initially opened at 1.08%, which is not very strong, but the disk performance is very stable, and the active long buy orders are much larger than the concentrated sell orders, and the stock price also shows a positive upward call auction trend.

The 'Western Securities' check was opened higher at a 1.23% gain.

Its initial call auction increase is slightly stronger than the performance of the securities sector index at the moment, but the long-short divergence in the real-time disk performance is not small, and the proposed synthetic order is rapidly enlarged over time, but its stock price is not further upward in the proposed synthetic order amplification.

This shows that the initial call auction performance of this check is obviously inferior to that of 'CEFC Securities' and 'CEI Capital'.

In addition to these three popular stocks, the stock sector is weighted.

Pacific Securities, Southwest Securities, Huaxin Securities, Xiangcai Securities...... The real-time performance of these low-priced securities stocks is also significantly stronger than the performance of the securities sector index.

It's like Huashang Securities, Huatai Securities, Huatong Securities, and Founder Securities...... The real-time performance of these large-cap stocks with relatively large market capitalization is significantly weaker than that of the securities sector index, and the higher opening range is basically between 0.5% and 0.7%, which is slightly inferior to the emotional performance before the opening.

As for the banking and insurance sectors in the main line of 'big finance'.

In terms of the form of initial call auction, the relevant core popular stocks, such as China Commercial Bank, Huajian Bank, Huanong Bank, Huaguo Bank, Bank of Communications, Huaguo Taibao, Xinhua Insurance, Ping An Insurance, Ping An Bank, China Commercial Bank, Shanghai Pudong Development Bank, Industrial Bank, etc., ...... The core stocks are obviously stronger than the weighted securities stocks, and the amount of active buying on the real-time market can increase more rapidly.

For example, in the main line of 'big finance', the 'Internet finance' sector with more active liquidity and elasticity is more active.

The trend of related core stocks and popular stocks is still the strongest in the main line of the entire 'big finance', and even in the entire market of the two cities.

Among them, the 'great wisdom' maintains the trend of opening the price limit high.

The 'straight flush' opened 3.75% higher, and as time went on, the market gains continued to rise.

'Oriental Wealth, Hengsheng Electronics, Yinjie Technology, Sunline Technology, Jinzheng Shares, Tianyu Information, Shanghai Ganglian ......' these relatively popular core stocks in the sector are also above 2% at the moment, obviously outperforming the sector index, and the disk is actively buying, and it is still in an increasing state.

A number of popular stocks, weighted stocks and industry leading stocks in the core main areas of 'big infrastructure', 'military industry' and 'technology growth'.

"Huaguo Construction, Huaguo Railway Construction, Huaguo Communications Construction, Huaguo Zhongjian ......" and other "Huazitou" infrastructure weighted stocks, the initial high opening gains, slightly weaker than a number of securities weighted stocks, mostly between 0.4% and 0.6%, but there are also more serious sell-offs of the 'Huaguo Metallurgical' check, there was a short-term small low opening pattern.

As for the "Beixin Road and Bridge, Shanghai Construction Engineering, Beijiang Jiaotong Construction, Yingkou Port ......" these "Shanghai Free Trade Zone", "New Era Road, Maritime Silk Road" core concept of the field of popular leading stocks, at the moment are all sharply higher, the high opening range is not less than 1%, among them, yesterday's trend fell sharply "Shanghai Sanmao", the "Shanghai Free Trade Zone" concept of the leading stocks, is more than expected to open at 4.22%.

The main field of 'military industry'.

Large-capitalization 'military' core weighted stocks, such as Aviation Power, Northern Navigation, China Airlines Shenfei, Huaguo Great Wall, ...... and other stocks, the high opening range is relatively large, the trend is strong, and the "China Airlines Heavy Machinery, Hongdu Aviation, Aerospace Development, Bluestone Heavy Equipment, Chengfei Integration...... these "military" main line of popular concept stocks, the initial call auction opening trend, is relatively weak, only half of the number of stocks to achieve a significant high opening, the rest is either flat or slightly lower opening trend.

A number of popular stocks and core weighted stocks in the main line of 'technology growth'.

It is somewhat similar to the trend pattern of the main line of 'military industry'.

They are all stocks with relatively large market capitalization weights, but the trend is stronger, and the small-cap concept stocks that were previously popular with short-term funds are relatively weak.

Through such a pattern of individual stock performance......

It can be seen that the overall market pattern of the two cities is still focused on the main line of 'big finance, big infrastructure, military industry, and science and technology growth', and in the more core main line of 'big finance and big infrastructure', the path of active attack of funds is a bit of a 'high and low switch' form, while in the main line of 'military industry, science and technology growth', funds still prefer core stocks with higher liquidity and certainty.

In addition to the performance of these main line areas.

In the past, in the market, the line of 'sub-new stocks' that was once concentrated by short-term funds and continued to speculate.

At this moment, the performance is obviously a little feverish, the entire 'new stocks' sector index only opened slightly higher by 0.23%, and in the sector field, red stocks and low stocks have basically reached the situation of five or five open.

Of course, among them, the check of the 'new demon stock' Huake Sugon, which has received a lot of market attention.

After hitting 17 consecutive price limits, today is still a sharp opening, at the moment the disk is up to 8.99%, and on the disk, the proposed order is as high as 14,900 hands.

9:17, 9:18, 9:19......

The market pattern of the two cities, as well as the disk pattern, are still in this pattern and continue to deepen.

Gradually formed banking, insurance, securities several major industry sectors led the rise of the two cities, commercial real estate development, building decoration, building materials, public transportation, machinery and equipment...... Many of the core industry sectors of 'big infrastructure' followed by the gains, and then the overall pattern of the two major industry sectors of Internet software and Internet application followed by the red plate.

And the concept plate.

It is the pattern that the Internet finance sector led the rise, and the main lines of core concepts such as 'On the Road of the New Era, the Maritime Silk Road', 'Shanghai Free Trade Zone', and 'Reform and Reorganization of Central Enterprises and State-owned Enterprises' have followed.

And when the clock ticked to 9:20.

When the two markets enter the real call auction that cannot be cancelled.

I saw that after a large number of false pending orders between 9:15 and 9:20 were cancelled, the market situation of the two markets was presented......

Banking, insurance, and securities are still leading the gains.

The two major industry sectors of machinery and equipment and public transportation stood out from the many 'large infrastructure' related industry sectors and squeezed into the top five of the two cities' gainers.

After that, building decoration, building materials, commercial real estate development, Internet applications, and Internet software have their own performances.

As for the low-level main line area, the weak performance of coal, nonferrous metals, petrochemical industry, these major 'black' cyclical industry sectors, have completely become the leading sectors of the two cities at the moment, and the relevant core weight stocks on the disk, the signs of funds actively selling and selling chips are very obvious.

Overall, after five minutes of disc changes.

The active buying situation of the market, as well as the active funds that take the initiative to undertake the market, have further gathered to the two popular main lines of 'big finance' and 'big infrastructure'.

"Looking at this disk form, yesterday once played a short-term money-making effect of the 'big consumption, non-ferrous cycle, coal, petrochemical, pharmaceutical ......business' these low-level main line areas of the position investor group, at this moment, all in the sale of chips, these related industry plates, concept plates, completely become the two cities of the leading sector field." At 9:21, in the magic capital, inside Zexi Investment Company, in the main fund trading room, Zhou Kan, who had been observing the disk, said with a smile, "The main line rotation logic of the market's 'high and low switching' has come to this point...... It must be completely non-existent, right? ”

Xu Shen squinted his eyes and said with a smile: "The time is not ripe, and it is very normal for funds to continue to escape from these unexpected cycle main lines." ”

"However, I feel that the two core main lines of the two major markets, 'big finance' and 'big infrastructure', have not siphoned much money from the low-level main line." Zhou Kan paused, and then said, "Large-capitalization weighted stocks such as 'CEFC Securities, Huashang Securities, Huatong Securities, Huashang Bank, Huatong Bank, Ping An Bank, Ping An Insurance, Huaguo Taibao, ...... are also a bit unworthy of the pre-market bullish sentiment performance." ”

"As I said before, on the line of 'big finance', the accumulated profit orders and unhedging orders are also quite heavy." Xu Shen took over and said, "So it is impossible to continue to rise eagerly, unless the market news can continue to release major benefits, and the turnover of the two cities can quickly enter the era of 900 billion or even trillions."

This stage......

I estimate that the two core main lines of 'big finance' and 'big infrastructure'.

With the support of the logic of tough future expectations and the help of hot market bullish sentiment, it should also be necessary to gradually take a differentiated market. ”

"Differentiated market?" Zhou Kan was stunned and asked, "Boss, what do you mean?" ”

Xu Shen said with a smile: "That is, the high and low switching of the internal plate, after the core industry leaders and weighted leading stocks of 'big finance' and 'big infrastructure' have completed the initial wave of skyrocketing, when the market divergence is relatively large, in the same sector, the low-level stocks with less upward pressure should quickly make up for the rise, further repair the overall valuation, and continue to amplify the investment cost performance of the leading stocks." ”

"Well, that's possible!" Zhou Kan listened to Xu Shen's words, carefully observed the disk, and found that in the main line areas of 'big finance' and 'big infrastructure', at this moment in the call bidding stage, the performance is better, and it seems that it is indeed a group of unpopular stocks in the sector that have not risen much before, "Sure enough, the funds are like flowing water, where the most cost-effective investment will flow into where it will flow quickly." ”

Xu Shen responded: "Yes, this is called 'high and low switching', the capital groups who guided the market yesterday are completely blind to pull the market." ”

As the two spoke......

The time has reached 9:25, and the two cities have ended the call auction.

I saw that after 10 minutes of the entire call auction process, the two markets that were fixed still showed a high-opening pattern as a whole.

The Shanghai Composite Index opened higher at a 0.41% gain.

The Shenzhen Index and the ChiNext Index opened 0.29% and 0.17% higher respectively, only slightly higher.

The A50 index opened significantly higher at 0.63%, and the small and medium-sized board index only reached a flat opening trend, which is still the weakest index in the core index of the two cities.

And it is particularly noteworthy......

In the opening performance of a number of indices, the performance of index futures.

The A50 index futures, which have just been listed on the second day, have appeared in the form of a premium at this moment, and its opening increase fell at a position of 0.82%, which is significantly higher than the performance of the A50 index itself.

This illustrates the group of investors who are involved in stock index futures speculation, or hedging.

Everyone is obviously more aggressively optimistic about the performance of the weighted stocks in the two cities, as well as the blue-chip stocks in the large market, and believes that the market pattern of the two cities will continue to perform around the blue-chip weights of the main board.

In addition to the performance of the index, the performance of the popular main line areas of the two cities.

Securities, banking, and insurance sectors, at this moment, still maintain the form of leading the two markets.

The securities sector opened 1.21% higher, the banking sector opened 0.79% higher, and the insurance sector opened 0.77% higher.

Among them, the corresponding constituent stocks......

The check of Hua's investment capital was finally opened at 1.46%; Western Securities opened higher at 1.26%; CEFC Securities opened 1.19% higher; China Commercial Securities opened 1.11% higher; Huatong Securities opened 1.09% higher; 'Southwest Securities, Pacific Securities, Huaxin Securities, Founder Securities, Industrial Securities' and ......other low-priced securities stocks, as well as low-priced securities stocks that have seriously lagged behind the performance of the securities sector, have opened higher at 1.5% or above 1.5%.

It is significantly stronger than the popular weighted securities stocks, as well as the core leading stocks of the two major securities sectors of 'China Investment Capital' and 'Western Securities'.

in the banking and insurance sectors.

This phenomenon and pattern are exactly the same as those of the securities sector, showing a form of capital preference of 'high and low switching' within the sector. (End of chapter)