策略点评：论第四次“突破尝试”的有效性

Strategy Overview - The report discusses the effectiveness of the "fourth breakthrough attempt" in the context of market structure being more important than index direction [1][2] - The BOCIASI sentiment indicator has shown an increase, indicating a focus on whether to increase or decrease positions [2] Market Performance - From June 23 to June 25, 2025, the Wind All A Index achieved three consecutive gains, raising market attention on whether the index can break through previous consolidation levels [2] - The Wind All A Index has touched the upper boundary of its range three times since October 8, 2024, with the BOCIASI indicator issuing three sell signals [2] Current Market Conditions - As of June 25, the slow line reports 38.4% and the fast line reports 53.9%, indicating a "volatile market" environment [2] - If the Wind All A Index rises by 1.0%, the moving average system will transition to an "upward market" environment, with adjusted sell thresholds for both slow and fast lines [2] Investment Recommendations - The report suggests maintaining current positions while adjusting the holding structure to prioritize "controlling drawdowns" over "beating the index" [2] - Even if the brokerage sector continues to rise and the index breaks through the range, there may still be opportunities for a "second emotional low" after the initial breakthrough [2] Sector Analysis - The rise in the brokerage sector is viewed as a defensive action against high sentiment levels, with a shift towards buying relatively lower-priced stocks [2] - The report highlights that the brokerage and internet finance sectors were catalyzed by news related to "stablecoins" on May 25 [2]