Group 1 - The article discusses the concept of relative strength from the Zulu principle, emphasizing its application in growth stock investment and the popularity of the PEG ratio due to this principle [1] - The relative strength compares the price movement of individual stocks against market indices, which is slightly different from the RS indicator mentioned in another source [1] - A formula for calculating relative strength using Tongdaxin is provided, illustrating how to derive the relative strength value [1] Group 2 - The output curve generated from the calculations is compared with an existing strength indicator (QR) in Tongdaxin, showing that both indicators are similar but have slight differences [2] - The QR indicator's formula is shared, indicating that it can also express the relative strength of the Zulu principle due to the underlying logic being the same [3]

Group 1 - The adjustment rhythm is closely related to the leading technology stocks, with companies like Xinyiseng, Shenghong, Fulin, and Hanwu showing limited pullback but extended pullback duration, causing a convex curve in moving averages [1] - Leading stocks are showing pivot point signals, indicating potential market movements, but it is not yet confirmed that the base has ended [2] - Shenghong has experienced a pullback of 27.6%, which is within the acceptable range for quality bases, and recent mild volume increase along with today's pivot point signal suggests cautious bullish sentiment [3] Group 2 - Fulin shows the best status with a pullback of only 15.7%, indicating a potential for renewed volume and new highs, similar to companies like Yuanjie Technology [5] - Overall, the signals from leading technology stocks are positive, but attention should be paid to subsequent changes and confirmation signals, particularly regarding the 20-day moving average [6] - The average stock price index has not yet exited the pullback structure, and the possibility of new lows remains significant [6]

这两天被这首歌霸屏，但好像也特别应景当下的股市。 今天弱反弹，后续大概率继续新低。 本应该从从容容游刃有余，现在是匆匆忙忙连滚带爬…… 永远不要小看中长期均线凸形反转。 周末随手翻了翻最近买的书《杰西利弗莫尔疯狂的一生》，发现这本书可读性比《股票大作手回忆录》 要好，虽然是同样的剧情。 ...

Group 1 - The article discusses the psychological risks faced by traders, emphasizing that the greatest risk is not from the market but from one's own behavior and mindset [2] - It highlights the strong bearish momentum released on Friday, indicating that the market has not yet reached a bottom and further downward movement is likely [4] - The article suggests that the market is in a phase of constructing another consolidation area before potentially testing momentum again, indicating a cyclical pattern [4] Group 2 - The author emphasizes the importance of understanding market dynamics, particularly the relationship between volume, price, and time, which are crucial for interpreting market movements [4] - It is noted that many traders lack a deep understanding of these concepts, which are essential for effective trading strategies [4] - The article uses a metaphor of "capital as a celestial mass" to explain how market forces influence price movements over time, suggesting a complex interplay between market dynamics and trader psychology [4]

Core Viewpoint - The article discusses the effectiveness of different market indices in reflecting the overall market situation, specifically comparing the All A Equal Weight Index and the Average Price Index. Group 1: Index Comparison - The All A Equal Weight Index treats all stocks equally, with a calculation formula that averages the price changes of all constituent stocks, disregarding market capitalization and stock price [1]. - The Average Price Index, on the other hand, is influenced by the market capitalization and stock price, giving more weight to high-priced and large-cap stocks, which reflects the actual market dynamics better [4]. - The All A Equal Weight Index can create a misleading representation of the market, as it can be easily influenced by small-cap stocks, leading to a distorted view of market performance [2]. Group 2: Market Dynamics - The Average Price Index is argued to be more representative of market sentiment, as it reflects the capital flow and the actual market conditions, thus providing a more realistic view of the market [4]. - High-priced and large-cap stocks, such as Moutai and Ningde Times, significantly impact the Average Price Index, indicating the importance of respecting these stocks in market analysis [4]. - The article emphasizes that abstract mathematical representations in the stock market lack significance without considering capital dynamics, which are crucial for understanding market behavior [4]. Group 3: Market Outlook - The author notes a cautious outlook on the market, indicating a trend towards weakness and increased volatility in individual stock performances [5].

Core Viewpoint - The article emphasizes the importance of long-term investment in blue-chip and high-dividend stocks, suggesting that the guidance provided by the Shanghai Composite Index is significant for investors [1] Group 1 - Retail investors have recently been overly optimistic about the Shanghai Composite Index, leading to potential misconceptions [1] - The turning point of the Innovation and Entrepreneurship Index is evident, indicating a need for caution in market movements [1] - The article suggests that the best defense strategy is to observe more and act less, highlighting a shift from volume-price divergence to a consistent decline in volume and price [1]

Group 1 - Short-term sentiment remains active, while mid-term sentiment is diverging; a significant opportunity will arise when short to mid-term sentiment reaches a freezing point, which has not yet occurred [1] - The leading index, the ChiNext Index, appears to have reversed and established a new trend, with trading volume gradually shrinking; the short-term average volume has been below the mid-term average for a month [2] - One of the leading stocks, Victory Technology, has broken below the 50-day moving average and is about to undergo a convex reversal [3] Group 2 - The strength of the banking, insurance, and securities sectors is too weak, remaining under pressure from the 50-day moving average, making sustained upward movement unlikely [3] - The innovative drug sector is also under convex pressure, with occasional rebounds expected to be difficult to sustain [3] - The photovoltaic equipment sector shows a structured expansion in trading volume, with active accumulation at the bottom; the Relative Strength Ratio (RSR) has turned positive, indicating it is worth following [3]

Group 1 - The article suggests that the recent market rebound is merely a temporary reaction after breaking through a significant moving average, indicating a lack of substantial change in the overall market framework [1] - There is uncertainty regarding whether the market will experience a narrow range or a deep pullback, emphasizing the importance of maintaining a defensive position to await favorable conditions [3] - From the perspective of a specific trading theory, the current market situation is identified as a critical exit point for traders, highlighting the need to understand momentum changes rather than fixating on specific trading signals [4] Group 2 - There are no signs indicating the end of the current market adjustment; instead, it appears that the adjustment phase has just begun, suggesting a need for patience and strategic accumulation [5] - The article emphasizes the importance of continuous learning and reflection during challenging market conditions, advocating for a proactive approach to market analysis [5]

Core Viewpoint - The emergence of New Kai Lai in the semiconductor industry could signify a strategic shift, particularly if it successfully advances to 3nm technology, potentially altering the balance of power in the semiconductor supply chain and reducing Western control over critical technologies [1] Group 1: Industry Impact - The breakthrough in 3nm technology by New Kai Lai would alleviate the bottleneck in lithography, which is crucial for semiconductor manufacturing, thereby enhancing the competitive position of Eastern companies [1] - New Kai Lai's rise is expected to have a long-term positive impact on the upstream supply chain of equipment components and semiconductor manufacturing materials [1] Group 2: Domestic Demand and Capabilities - Domestic computing power demand has been suppressed due to a lack of high-end chips, which in turn is caused by insufficient advanced manufacturing capabilities [1] - If high-end manufacturing capabilities improve rapidly, similar to Western advancements, the release of computing power in the domestic market could be significant [1] Group 3: Recent Developments - At the 2025 SEMICON China exhibition, New Kai Lai introduced the ALD "Ali Mountain" atomic layer deposition equipment for sub-5nm film deposition and the Wuyishan series etching equipment supporting advanced processes below 5nm [1] - New Kai Lai's self-developed SAQP technology, in collaboration with Huawei's HiSilicon, has improved the precision of DUV lithography machines by 300%, achieving 5nm processes [1] - A collaboration with SMIC has led to the trial production of 5nm logic chips, achieving a wafer yield of 85%, which is close to TSMC's EUV process yield of 90% [1]

Core Viewpoint - The article emphasizes the potential investment opportunities in the power grid equipment sector, highlighting specific companies that are showing strong performance and growth potential despite a generally bearish market outlook [2][5]. Group 1: Company Performance - Siyuan Electric is identified as a leading stock in the power grid equipment sector, demonstrating stable high growth over four consecutive quarters, with a significant price-volume signal indicating a strong upward trend since July [2]. - TBEA (特变电工) is noted for its delayed but intense price-volume structure, with a recent fundamental reversal suggesting potential for further growth [3]. - Guorui Nandian, the largest company by market capitalization in the sector, is currently in a bottom accumulation phase, indicating potential for future movement [4]. Group 2: Market Signals - The article suggests that a market pullback could present an excellent entry point for investors, as it may confirm a breakout to new highs for the sector [5][6]. - Technical signals across various stocks in the sector show similar characteristics, indicating a broader trend that could be beneficial for investors [5]. Group 3: Industry Overview - The article discusses the overall state of the power grid equipment sector, suggesting that it is on the verge of a significant upward movement, with key technical signals marking potential entry points for investors [6][7].