量化择时周报：TMT成交占比创年内新高，大盘静待缩量信号

• The report introduces the TWOBETA model, which recommends sector allocation based on market trends. In December, the model suggests focusing on technology sectors and mid-term themes like robotics[2][3][9] - The industry allocation model highlights "distressed reversal" sectors such as real estate and new energy as favorable investment options. It also aligns with TWOBETA's recommendations for technology and robotics themes[2][3][9] - The timing system uses the distance between the 120-day long-term moving average and the 20-day short-term moving average to assess market conditions. The current distance is 13.7%, down from 14.6% last week, with the short-term average still above the long-term average. The absolute distance remains greater than 3%[2][3][8] - The position management model suggests a 70% allocation for absolute return products based on the valuation and trend of the Wind All A Index. The PE ratio is at the 50th percentile, indicating a medium-low level, while the PB ratio is at the 20th percentile, reflecting a relatively low level[3][9][13] - The report emphasizes the Wind All A Index trend, noting that the 5-day moving average (5158) is below the market trend line (5168), signaling potential high volatility and a need for patience until trading volume decreases to approximately 1.2 trillion yuan[2][3][13]