大盘突破3400点后，行情如何演绎？

Investment Rating - The industry is rated as "Outperforming the Market," indicating a positive outlook with expectations that the industry index will outperform the CSI 300 index over the next six months [26]. Core Views - The report emphasizes a bullish sentiment on the A-share market, particularly after the Shanghai Composite Index broke through the 3400-point mark, reaching a new high for the year. The report suggests that the market is likely to maintain a slow upward trend due to ample liquidity and ongoing policy support [3][17]. - The rotation in market style is attributed to two main factors: expectations of monetary policy easing and increased consumer stimulus policies. This has led to a recovery in the financial sector and consumer-related stocks [3][17]. - The report highlights the importance of monitoring the performance of technology and consumer sectors as key indicators for the sustainability of the market rally [17][18]. Summary by Sections Market Overview - The A-share market showed a strong performance last week, with the Shanghai Composite Index rising by 1.39% and the Shenzhen Component Index by 1.24%. The consumer sector, particularly dairy and financial stocks, led the gains [8][7]. - The report notes that the market is entering a verification phase for policies and economic fundamentals, with potential challenges if policy measures are delayed or external factors worsen [3][17]. Sector Analysis - Consumer Sector: The report suggests that consumer stocks, especially those with high dividend yields or low valuations, are worth considering for investment. The consumer sector is expected to benefit from ongoing stimulus measures [4][10]. - Financial Sector: The financial sector is highlighted as a key area for investment, with expectations of improved performance due to increased trading volumes and supportive monetary policies [10][12]. - Technology Sector: While the long-term outlook for technology stocks remains positive, the report advises caution in the short term due to potential volatility and the need for earnings to support high valuations [4][9]. Investment Strategy - The report recommends a strategy of selectively increasing positions in financial, cyclical, and high-dividend consumer stocks while being cautious with high-valuation technology stocks during the earnings reporting season [18][19]. - Investors are encouraged to adopt a high-low strategy, taking advantage of price fluctuations while focusing on stocks with strong earnings visibility [18][19].