3674点突破！牛市无阻？四大ETF选品策略

Group 1 - The Shanghai Composite Index has strongly broken through the previous high of 3674 points, indicating a potential bullish market trend, although a pullback for confirmation may be needed [4] - Short-term upward movement of the index may be limited due to insufficient marginal capital to sustain a continuous rise, leading to increased market volatility [4] - Mid-term outlook remains optimistic for market performance despite the need for digestion of market divergence funds at previous high levels [4] Group 2 - Domestic economic data shows resilience despite a slowdown, supported by structural exports, consumption, and certain industries resisting internal competition, which is favorable for stock market risk appetite [6] - Overseas, the appointment of temporary Fed governors by Trump may maintain favorable liquidity levels in the U.S. as long as CPI data does not exceed expectations [7] - No significant changes in fundamentals were observed, with July import/export data and CPI/PPI remaining within expected ranges, while global AI capital expenditure shows notable significance amidst a general reduction in industry spending [9] Group 3 - The small-cap growth sector is supported by an increase in risk appetite, with retail investor participation reflected in high trading congestion in growth sectors, although small caps have not yet reached high levels [9] - Internal policies are actively promoting measures against internal competition and enhancing birth policies, with ongoing observations on key tariff events related to the U.S.-China-India trade dynamics [9]