Also See Gap Gap: Shenzhen Shanghai A Shares Were Stimulated By Shenzhen Hong Kong Through Factors.

On Monday, the market continued to split up. In the early morning, the two cities began to jump high. After the opening of the stock market, bank stocks quickly pulled up, the Shanghai Composite Index rose sharply, and the growth enterprise market fluctuated around the closing point of the previous trading day. The Shanghai Stock Index dropped sharply in the afternoon, and the two cities in the late market went down.

It is a small Yin line, and the two cities can shrink.

CITIC Bank led the Shanghai Composite Index in the early morning, and was launched in the afternoon. In addition, the blue chip stocks that lagged behind in the current stage have increased, and the nonferrous metal sector has also maintained a strong trend.

Today's rush is accompanied by a gap gap, so the upswing market after the festival left 3 gap skips, and the second gaps were located in the middle of the two gaps. 3 went to exhaustion, and did not rule out the possibility that today's gap will be exhausted.

In the short term, we should pay close attention to the possibility of making up the gap.

On Monday, Shenzhen and Shanghai A shares were higher than those of the Shenzhen Stock Exchange, but the market showed a trend of high volatility. At the end of the year, the Shanghai composite index closed at 3277.10 points, up 15.16 points, Shenzhen's index closed at 11068.897 points, rose 32.34 points, and the Shenzhen growth enterprise index closed at 2166.05 points, down -1.48 points, showing the main creation and differentiation pattern.

The study found that since October, there are three obvious gaps in the Shanghai composite index, and its market has been difficult to sustain upward. Today, the third gap is missing. From the perspective of technology theory, it is possible to have a downward adjustment of the "downward pressure".

In recent years, the position of Shanghai composite index was 3009-3014 in October 10th 2016, 3262-3267 in November 10, 2016 and 3262-3267 today.

From the perspective of technical factors, these three recent shortfalls will form a market retreat factor, and it is also the most critical technical factor that causes the market to be difficult to achieve overall performance or sustainability.

Judging from today's intraday trajectory, the Shanghai market has lifted Chinese construction and sub new banking stocks, but its effect has limited impact on other stocks.

Our research market has found that the recent rise in the number of new or medium term banks is not large, but has an impact on the index, and in fact has a "leverage effect" effect.

For example, the new bank shares are actually leveraged, and the current new bank shares account for only 10% of the total share capital, and 90% of them are not tradable, which in part constitutes a re accumulation of split share structure.

Therefore, future negative factors can be expected.

Bank of Jiangsu, for example.

11 billion 500 million shares, while the stock market only 11.5 trillion billion, its intraday push, its total market capitalization index increased the leverage fluctuation index.

According to the study, this situation occurs when Shenzhen and Hong Kong link up. Due to the close docking of Shenzhen and Hong Kong, the postal savings and breakup in the Hongkong market may lead to rational investment pmission. Meanwhile, the very low cost of non tradable shares forms a negative expectation in the future. We also observed that the weakening of the GEM market is very obvious. The reasons we have mentioned in the research report have been mentioned many times.

From the change of market capital outflow, the net capital outflow has obviously occupied the mainstream for a month, and the net inflow of small and medium funds is obvious.

It is observed that this obvious increase in the number of days in which the main capital outflows will continue to be maintained or difficult.

Level shows: at present, Shanghai composite index and Shenzhen daily index line KDJ, w%r, RSI are in the high position, while the growth enterprise market is in the middle area. If we look at the weekly situation, Shanghai Composite Index and Shenzhen index are at high purity and overbought, while gem is in the middle area.

The differentiation of the motherboard from the technical level is very obvious, while the Shanghai composite index can be maintained at 300 billion, no more than the 340 billion level of November 14th and 15, indicating that the market participants are more cautious.

On the whole, we believe that there are third gaps in the Shanghai Composite Index today, and the high level of technical indicators will bring down the risk of technology. For the upcoming Shenzhen Hong Kong pass, we think it is a double factor of negative and excessive hedging. It has a positive impact on the stock with better valuation, but it has a negative impact on the performance or the overvalued stock. The pmission of its mature market or the differentiation of stock prices is not suitable for decomposition.

From the perspective of investment strategy, a steady investor can meet a high level of reduction or strategic wait and see. While short-term investors closely observe the market energy change, they can still pay attention to the volatility of some performance stocks, but in the short term, they should control their positions and maintain a prudent strategy.