External Pressure On A Shares Temporarily Relieves Waiting For Endogenous Positive Signals

The Fed raised its interest rate again, and the external pressure on A shares temporarily eased.

Despite the limited market investment opportunities, systemic risk and downside space are not large.

On the one hand, the economic data in August showed that the macroeconomic operation remained basically stable, while the risk-free interest rate was at a low level and there was a possibility of further downturns, which provided the economic support and liquidity backing for the market.

On the other hand, the current property market, bond market, futures market

The market is booming, which has caused a lot of pressure to divert funds to the dull stock market. But as the market has entered a certain high position, the possibility of the pressure of profit making funds leaving the field and the possibility of new funds being afraid to catch up are also increasing day by day.

It is expected that capital allocation will be approved under the "asset shortage" pattern.

In view of the current market sentiment, the lack of incremental capital and the absence of the leading sector, if the market wants to regain its momentum, there must be a positive signal of endogenous nature.

In the face of the structural market under the "dilemma" environment, prudent investors may choose to recuperate temporarily and wait for the release of short-term risk before they can be admitted.

First of all, we need to recast confidence and bring back the optimistic expectation of the market.

At present, the market is facing the pressure of weak economic recovery, diminishing marginal effect of monetary policy, and early overdraft of reform dividends. Investors should be patient and wait for the recovery of economic recovery to rise.

Secondly, if we want to successfully break through the rebound, we need incremental capital to continue to enter the market.

Only the new forces are eager to help.

It is possible to advance in depth; otherwise, the market will sink into the "box cycle" and even enter the "no advance" or "retreat".

From the historical experience, the Shanghai and Shenzhen two cities need to maintain about 600 billion yuan in order to maintain a good heat.

Third, the rise of investment hotspots can quickly gather popularity in a short period of time, and the "leading brother" that is strongly led is indispensable.

Historical experience shows that every time there is a long rebound, there must be a strong investment thread throughout.

Since the beginning of this week, although the market led sector has concentrated on the heavyweights, the main line is not clear from coal, iron and steel to the outbreak of real estate stocks on Thursday.

In the face of hot topics, low activity and scattered situation, funds can not be "settled", and can not lead the index to continuously expand space.

Fourth quarter may enter the stage of fiscal policy force, PPP, supply side reform and other concepts are expected to be active again or again, or the important direction of fund layout.

If the above hot spots continue to ferment, it is expected to revive the weak market.

In addition, after Bao Yang's licensing of Vanke, sunshine insurance has recently launched a stake in Yili shares, and the relevant supervisory departments support the insurance company's investment behavior under the existing laws and rules framework, and think that insurance funds have become an important force for the healthy and stable development of China's capital market.

Undervalued blue chips are expected to continue to attract venture capital, which will drive the index upward.