择时雷达六面图：本周拥挤度分数好转

• The timing radar six-dimensional model is based on a multi-dimensional timing framework, selecting 21 indicators from liquidity, economic aspects, valuation, capital flow, technical aspects, and crowding to generate a comprehensive timing score ranging from [-1,1][1][6][8] - Liquidity dimension includes factors such as monetary direction, monetary strength, credit direction, and credit strength, with scores reflecting signals like monetary policy direction and short-term market interest rate deviations[10][13][16][19] - Economic dimension includes growth direction and strength factors based on PMI data, as well as inflation direction and strength factors derived from CPI and PPI data, capturing economic trends and inflation expectations[21][24][28][31] - Valuation dimension includes Shiller ERP, PB, and AIAE indicators, measuring equity risk premium, price-to-book ratio, and aggregate investor allocation to equities, respectively, to assess market valuation attractiveness[34][36][40] - Capital flow dimension includes domestic indicators like margin trading increment and turnover trends, and foreign indicators such as China sovereign CDS spread and overseas risk aversion index, reflecting capital flow dynamics[42][45][49][52] - Technical dimension includes price trend and new high-new low indicators, capturing market trends and reversal signals based on moving averages and constituent stock performance[54][56] - Crowding dimension includes derivative signals like implied premium, VIX, SKEW, and convertible bond pricing deviation, reflecting market sentiment and overreaction signals[60][61][66][68]