This year, the stock index has suddenly returned to 14 years, with two weeks of sharp rises at the end of July and early August, and then 12 weeks of consolidation.
The main difference is that in 14 years and 12 weeks, it slowly fluctuated upwards and then rose sharply. And now the stock index has been violently stepping down in the 12th week and only stopped at the anniversary line.
So here's why? Because the chip structure is different. For more than four years of 14 years, he was hovering at the bottom, and there weren't many chips above the bottom box.
And now, because after several upward rushes in January '19, June '20, etc., there are many more chips above and historically. It's completely different from the chip structure in '14.
The volume in July and August may be all for the loosening of the historical chips above. Since its launch on July 24, the 12-week rush has finally been able to sort out the amount to the ideal level, dissolve the chips above, and at the same time make retail investors dare not enter the market.
However, there are also brokerage chip structures that are completely different from industry indexes, and they have long been out of the historical chip pressure, and the current shocks are to match the trend of the securities index, and the other is to wait for signals at the news level.