策略周报：市场短期或高位震荡

Market Overview - Major indices experienced significant gains last week, with the CSI 300 up by 5.50%, the Shanghai Composite Index up by 5.51%, the Shenzhen Component Index up by 6.75%, the ChiNext Index up by 9.32%, and the CSI 500 up by 6.70% [2][6][7]. - All 31 first-level industry indices tracked by Shenwan rose, with the top five performing sectors being Computer, Defense and Military, Non-Bank Financials, Retail, and Electronics [2][7]. Trading Data - The total trading volume reached 10,028.85 billion shares, with a total transaction value of 119,936.05 billion yuan. There were 5,012 stocks that rose and 330 that fell [3][9]. - As of November 8, 77 stocks reached historical highs, while only 2 stocks hit historical lows. The number of stocks reaching new highs over 30, 60, and 120 days were 1,985, 925, and 906 respectively, while the new lows were 5, 2, and 2 [12][13]. Margin Data - The weekly margin financing balance increased by approximately 103.1 billion yuan, while the margin short selling balance rose by about 0.6 billion yuan [14]. Investment Strategy - The report suggests that as the major indices approach their respective highs from October 8, the pressure on the market is likely to increase, indicating that short-term fluctuations may become the main theme [3][17].