华鑫证券双融日报-20250319

• The report introduces the "Huaxin Market Sentiment Temperature Indicator," which is constructed based on six dimensions: index fluctuations, trading volume, number of rising and falling stocks, KDJ, northbound capital, and margin trading data. This indicator is categorized as an oscillation indicator, similar to the RSI indicator, and is more effective in range-bound markets. It may lose effectiveness during trending markets, where prolonged high or low values could indicate a trend shift[20] - The "Huaxin Market Sentiment Temperature Indicator" is scored on a scale of 0-100, with ranges defined as: Overcool (0-19), Cool (20-39), Neutral (40-59), Warm (60-79), and Overheat (80-100). The current sentiment score is 77, indicating a "Warm" market sentiment[5][10][20] - The report highlights that when the sentiment score is below or near 30, the market tends to find support, while scores above 90 may indicate resistance[10] - The indicator's historical performance is visualized in a chart, showing its movement over the past 60 trading days alongside the All-A Index and key sentiment thresholds (20th percentile for "Overcool," 50th percentile for "Neutral," and 80th percentile for "Overheat")[14][20]