10.21：周二午后，A股窄幅震荡是主基调

Market Index Analysis - The major A-share indices in Shanghai and Shenzhen continued to rise, aligning with previous analysis expectations, indicating a significant recovery in market sentiment [1] - The Shanghai Composite Index and the ChiNext Index were highlighted for further analysis after the market closed [1] Shanghai 50 Index - The Shanghai 50 Index has completed eight effective adjustment cycles as of the previous day's close, with the morning session marking the ninth cycle, indicating a potential turning point [4] - The index experienced effective upward movement during the first two hours of trading, but the likelihood of maintaining this upward trend in the afternoon is low, suggesting a potential for consolidation [4] - On a daily chart, the Shanghai 50 Index remains within a consolidation range, with recent trading days showing a continuous decrease in volume, indicating that the index is merely experiencing a rebound and may face further adjustments [4] ChiNext Index - The ChiNext Index has seen significant declines recently, with a rapid drop in value; however, a slight rebound occurred after five effective adjustment cycles, which does not correspond proportionately to the previous declines [7] - The index's rebound reached near the ten-day moving average, which is considered a normal recovery; however, similar to the main board indices, the trading volume has severely contracted, indicating insufficient upward momentum [7] - As of the previous day's close, the ChiNext Index had completed four effective adjustment cycles, with the last hour's candlestick providing a stabilization signal, making today's rise a normal occurrence [7]