The Index Dropped To &Nbsp; The Main Battle Was Fought In November.

The IF1110 contract of stock index futures will be delivered to maturity, and both sides will continue to pfer to IF1111.

Overnight, the European and American markets stabilized, and no new bad news came out, which led to a crash.

According to the rules, the contract IF1110 will be held on Friday (21).

From the point of view of key seats, Guotai Junan Futures somersault many, after the layout of the November contract, yesterday, its multi position positions increased by 659 to 2167 hands, China Securities Futures led the empty camp, holdings of empty single 859 hands to 3276 hands, the two sides against the future whether there will be a rebound in January.

In addition, in terms of the concentration of positions, the number of short positions was significantly higher than that of the main players. The top 20 seats were 16 thousand and 100 hands and 19 thousand and 900 hands respectively, and the ratio of short to short positions was 0.81, which was slightly lower than that of the previous day.

Yesterday's stock index futures market, the eastern securities derivatives department, said the high Zi Jian, the market operation has two characteristics, one is the morning's violent concussion, but it does not represent the market pessimism, we can see that the afternoon market did not further fall, basically around yesterday's settlement price position narrow oscillation, indicating that there are still many rebound expectations.

The second feature is that the October contract delivery is approaching, and the position is shifted to November, but the previous contract is not equal to the previous one, and there is no increase in the position. This shows that the market is cautious about continuing to decline.

Gao Zijian believes that the stock index downward space has been very small, the market outlook should be shock upward, but there will be adjustments in the process.

Haitong futures index analyst Wang Juan said that although the market is already at the bottom of the interval, but to break through, we need substantive policy coordination.

From another point of view, she thinks that after Huijin's holdings, the State Council meeting supports micro enterprises, which has an impact on market psychology. However, due to lack of further positive news, the stock index has dropped.

At present, everyone is clear about the weakening of fundamentals, and the market is waiting for monetary policy to be relaxed.

While the domestic central bank's monetary policy, the deposit reserve ratio may be reduced, but it is expected that only when the CPI price inflation is suppressed in October can the monetary policy adjustment be opened.

This will wait until at least November or December or even the first quarter of next year.

Previously, the market will continue to oscillate at the bottom.