"Explore the mysteries of the stock market, unlock the stock market password, and analyze the direction of the daily market" Hello everyone, welcome to "Toot Toot Finance", I am "Toot Toot". The first time to come in the small partner, first "like" and "pay attention". Like the attention is not lost, stock speculation sooner or later to get rich!
Part I: Broad Market Review:
Broad market charts
Closing Index:
Today, the Shanghai Composite Index rose 0.18% to close at 3539.10.The Shenzhen Component Index rose 0.04% to close at 14705.37, and the ChiNext board fell 0.09% to close at 3430.14.
Trading volume of the two cities: Shanghai market turnover of 443.4 billion, Shenzhen market turnover of 655.7 billion, the total transaction volume of the two cities of 1,099.1 billion.
Northbound Funding Trends:
Northbound funds
Northbound funds today net inflows of 7.243 billion and net purchases of 3.627 billion.
Market Sentiment Indicator:
Market sentiment
Today the market is up 2710 and down 1625. There are 96 up and 6 down, the market sentiment is still available, and the small cap stocks are more active.
Part II: Market Commentary:
Today's market rushed higher and fell back in the morning, and hit a new high again in the afternoon, but it did not accelerate its rise, but it was a sideways shock, which was basically dominated by sideways shocks throughout the day, and there was no clear direction. In terms of volume, the Shanghai Composite Index shrank sharply today, so there is no momentum for the rise.
From the above chart, it can be seen that the Shanghai Composite Index is shrinking, indicating that there is no obvious entry fund to unwind the upper trap, and the shrinkage is upward, and the height is limited.
The trading volume of the ChiNext board is similar to yesterday's trading volume, but the yin line volume shows that the divergence here is very large, not a good signal, and it has received a yin cross heart. Judging from the opening 30 minutes, the Shanghai Securities And the ChiNext Board are both the amount put when the opening falls, indicating that everyone here still has no confidence, and arbitrage is arbitraged when it rises.
From the perspective of the wave type, what should be taken here belongs to the 5-wave decay wave, so after the sideways shock is sorted out, the back should take the pullback wave.
Part III: Outlook for the Broader Market:
The chart above is a possible chart of the market that I drew according to the wave theory, if it is confirmed that the 5 waves are finished, then it is time to take the ABC 2 wave pullback, so I am bearish on Monday's market. Even if there is another high point that is also the extension of the 5 waves, it is also going to take a pullback wave, so I have to reduce my position at a high today.
Conclusion: The above views are for reference only and do not constitute a buying and selling recommendation. I am Toot Toot, like the attention is not lost, speculation sooner or later to get rich!