【make money,Google,guessing competition,Ball game】

On Monday, the overall market risk sentiment continued to release, with all three major indices closing in green with a decline of over 1%. Especially, the Science and Technology Innovation 50 Index hit a historic low,

 and the transaction volume between the two markets continued to maintain at the level of 720 billion, which is not much different from the previous period, indicating that the market has neither further released 

panic trading nor rushed to buy long funds.

On the market, only two major sectors, 5G and satellite navigation, bucked the trend and strengthened. Huawei Automobile continued to perform actively, while Shenglong Stock closed 12 consecutive times, and 

computing power began to diverge. In contrast, the collective adjustment of chips has approached the limit during the Cambrian period, with photovoltaic, new energy, volatility declining, oil and gas, and data 

elements leading the decline. Over 4600 stocks in the two markets fell, with only less than 500 stocks rising. The profit making effect was average, and investors' wait-and-see sentiment further increased.

However, it is worth mentioning that the current index is accelerating its decline, with the Science and Technology Innovation 50 hitting a historic low and the ChiNext falling for 7 consecutive days. There is a clear 

deviation in both technical aspects.

We believe that there are both market factors and our own factors in the emergence of such a weak situation. In terms of market factors, entrepreneurship and innovation mainly focus on attributes such as technology

 and medicine. The external environment and policy guidance have a deep impact on such sectors, coupled with weak investor sentiment and a clear structural market trend. Only a few varieties have high trading 

activity and weak index performance. From their own factors, before 2021, technology stocks and pharmaceutical products continued to rise, with valuations rapidly rising. However, the fundamentals were affected 

by multiple factors, making it difficult to support higher valuations, leading to valuation regression. However, regardless of whether or not, after about 2 consecutive years of adjustment, mass entrepreneurship and 

innovation have basically entered a low range, with obvious deviation in technical indicators and limited downward space. After the bottom is consolidated and consolidated, it is expected to usher in a rebound 

market.

Of course, even if a technical rebound is expected in the short term, as we have repeatedly emphasized recently, the foundation of the current market surge is not solid, so the rise should only be treated as a 

rebound. Positions and operations should not be too positive, and further consolidation is needed here, and even the possibility of continuing to seek a bottom cannot be ruled out.

Therefore, tactically, the current focus is mainly on small positions and light positions, focusing on structural opportunities for individual stocks. Investors with higher trading levels can quickly enter and exit, 

and gain price differentials, but the difficulty is high. However, for cautious and conservative investors, it is better to see more and move less, and then operate after the market is further clarified. Of course, 

from a medium to long term perspective, opportunities outweigh risks here, and sectors and individual stocks that have been adjusted in place can be built in batches appropriately.