本期震荡有支撑，多看少动

Investment Rating - The report suggests maintaining a balanced industry allocation in the short term due to limited bullish signals from the four-wheel drive model [2] Core Insights - The current market is experiencing a period of volatility with support, and the recommendation is to adopt a wait-and-see approach [1][8] - There are signs of a small-level bottom divergence in the previously weak technology sector, indicating potential opportunities for low-entry positions [2][9] - The overall market structure is relatively strong, with most broad-based indices not falling back to the support levels seen at the end of April [1][8] Summary by Sections Market Key Points - The market continues to experience fluctuations, with most mainstream indices remaining stable, while small-cap indices have seen slight increases [1][8] - Concerns about a potential downward trend similar to June 2024 are present, but technical indicators suggest that there is no need for excessive worry at this time [1][8] Market Judgment Logic - The cyclical analysis model indicates that there is insufficient evidence to conclude that the upward trend since early April has ended [1][8] - The moving average system (100-200-400-800) is in a bullish arrangement, which is an improvement compared to the state in June 2024 [1][8]