和讯投顾徐荣贵：指数红盘却跌懵了，这行情藏着两个危险信号！

Core Viewpoint - The market is experiencing a deceptive rally, with the index showing gains while the majority of individual stocks are declining, indicating a potential trap for investors [1][2][3] Group 1: Market Performance - The index reached a high of 3930 points but failed to break the previous high of 3936 points, suggesting a lack of momentum for a genuine breakout [3] - Despite the index being in the green, over 4000 stocks declined while only about 1000 stocks advanced, highlighting a significant disparity between index performance and individual stock performance [1][2] - The trading volume increased by 15% compared to the previous day, but the overall market activity was still considered low, indicating a lack of genuine investor interest [2] Group 2: Sector Analysis - Major stocks like Moutai and leading insurance companies were propped up by funds, which temporarily supported the index, but this was seen as a façade rather than a sustainable trend [2] - The AI media sector and other small-cap stocks experienced significant declines, with some dropping over 4% within half a day, reflecting a broader weakness in the market [2] Group 3: Future Outlook - The support level at 3890 points is critical; if breached, the index could fall towards 3850 points, with a high probability of further declines given the current market conditions [3] - A volume threshold of 2.3 trillion is necessary for a rebound; today's volume of 1.9 trillion is insufficient, suggesting continued volatility ahead [3] - Investors are advised to reduce positions in underperforming stocks and avoid bottom-fishing until clearer signals emerge, as the current environment is characterized by risk aversion [3]