大盘仍有惯性上冲的潜力，短期阶段仍有四大隐忧，牛市也要保持一份清醒

Core Views - The A-share market shows potential for upward momentum, with the possibility of challenging new highs in 2025, driven by financial and technology leaders [1][17] - However, there are significant pressures above the 3700-point mark, including technical resistance, volume concerns, and the upcoming earnings verification period [1][18] Market Overview - Last week, the three major indices in the A-share market experienced a collective rise, with the Shanghai Composite Index reaching a peak of 3700 points, supported by strong performance in the brokerage sector [4][5] - The market's overall sentiment remains active, with trading volumes exceeding 20 trillion yuan for three consecutive days [1][5] Sector Performance - The PEEK materials concept and semiconductor sectors have shown strong growth, with significant increases in stock prices [7][9] - The brokerage sector has been highlighted as a key area for investment, with expectations of continued performance due to favorable market conditions and policy support [8][9] - The renewable energy sector, including wind and solar equipment, has also seen substantial gains, driven by supply concerns and ongoing demand for green technologies [12][13] Investment Strategy - The report suggests a cautious approach, recommending investors to focus on individual stocks with strong earnings certainty rather than broad index exposure [2][18] - Emphasis is placed on sectors such as technology growth and brokerage firms, which are expected to perform well in the current market environment [2][18]