收评：放量下跌，行情结束了？别慌，看明白这三个信号

Core Insights - The market experienced a "high open, low close" scenario following the Federal Reserve's interest rate cut, with the Shanghai Composite Index dropping by 0.7% and the ChiNext Index declining even more significantly. The total market turnover increased to nearly 1.9 trillion yuan, indicating a significant volume drop despite the overall market decline [1][3]. Group 1: Market Signals - The first signal is the "increased volume" during the decline, indicating a significant divergence between bulls and bears, with some funds selling while others are actively buying. This contrasts with a low-volume decline, suggesting that the market is not in a complete downturn [3]. - The second signal involves a "fierce competition between new and old market leaders." Sectors like wind power and controllable nuclear fusion, representing green energy and future technology, showed strength, while traditional sectors like retail and real estate faced significant adjustments. This indicates a clear shift in market focus [3]. - The third signal is highlighted by the performance of individual stocks, particularly the "first domestic GPU stock" Moore Threads, which surged over 28%. This reflects a strong market preference for high-tech companies with top-tier technology narratives, suggesting that risk appetite remains selective rather than broadly retreating [3]. Group 2: Investment Strategy - For investors holding positions in strong sectors like wind power and controllable nuclear fusion, patience is advised as long as the trend remains intact and the underlying logic does not change [4]. - Investors still holding weak sectors like retail and real estate should reassess their positions. If there is no significant improvement in fundamentals, the recent decline may not be the end, and reallocating funds to more dynamic new leaders could be beneficial [4]. - For potential entrants, it is recommended to "buy on divergence." The recent volume drop has created opportunities for those interested in new leaders like high-end manufacturing and green technology, suggesting a wait for market pullbacks to identify core investment opportunities [4].