The A Share Market Is Pferred To The &Nbsp In The Replacement And Washing Stage.

Market turn into hand washing stage

First of all, Tuesday's rally was on the defensive for the whole day, basically confirming the formation of short term head.

Due to the sharp decline of the market at the beginning of last week, the strong shock followed by the failure to return to the second rush failed earlier this week, and it quickly withdrew, and the characteristics of "three more exhaustion" again appeared.

If this is possible, it is likely that the 2478 point has become a high rebound point.

Secondly, in the recent bustling surface, last week, the agency's departure funds exceeded 20 billion yuan, and the first two days of the week left the field more than 20 billion yuan.

At the same time, last week, the size of the non - reduction climax occurred frequently, and the reduction amount reached 7 times of the increase. This proportion is the highest in the near future.

In addition, the issue of new Internet shares is up to 10 this week. The purchase funds can be renewed every day, and the pressure of expansion and supply and demand will also become more intense.

Therefore, judging from the current situation, the adjustment of market entry is also logical.

Liquidity is expected to return to easing

East China Securities Research Institute: in recent years, the short-term interest rate of the 7 day repurchase in the inter-bank market is still relatively high, which has greatly weakened investors' confidence in the medium and long term market funds.

This month, the maturity of the open market funds was 254 billion yuan, the most capital month in the first half of the year.

The monetary policy is more likely to remain neutral if the demand for capital is rather loose and the demand for real economy has not been lifted.

The economic data released in February will be released on February, and the CPI growth rate is expected to fall to around 3%. With the further fall of inflation, monetary policy is expected to be loosened. The continuous improvement of medium and long-term funds will become a probability event, and liquidity is expected to return to easing.

Two sessions market probability is large

Galaxy Securities Research Department: in the current macroeconomic environment and index trend, we tend to think that the probability of the two sessions will be larger.

The difference between the two sessions is a major concern of deepening the reform.

After twenty years of the South inspection tour, when the reform and opening to the new crossroads, this year's two sessions may become a landmark event to promote China's political, economic and social development pformation, deepen reform and open wider to the outside world, which has historic significance. This will enhance investor confidence in China's economic development and help to enhance the long-term value of the A share market.

In the macro fundamentals, this week will usher in the test of data from January to February, although the short-term data is hazy.

Heavy traders can reduce their positions in stages.

Northeast Securities: we believe that liquidity is improving.

At present, the market is running in the process of improving liquidity and waiting for verification of the economy bottoming out.

Based on this, we suggest that investors with heavy positions make phased reduction between 2450 and 2500.

But we think this is not the end of the overall rebound, and tends to reduce systemic risk through configuration.

On the other hand, we should maintain the liquidity sensitive early cycle durable goods such as brokerages, real estate and automobiles. We will reduce the number of resource goods such as nonferrous metals and other companies who have rebounded first and have not significantly improved their demand. The valuation is still low and will benefit from the railway, water conservancy, electricity and other related infrastructure and high-end equipment companies that are gradually implemented in the planning projects.