指数信号整体中性偏空，短期震荡偏空：【金工周报】（20251117-20251121）-20251123

• The report includes multiple quantitative models for market timing, categorized into short-term, mid-term, and long-term models, such as the "Volume Model," "Feature Volume Model," "Smart Algorithm Model," "Up-Down Return Difference Model," "Calendar Effect Model," and "Long-Term Momentum Model" [1][11][12][13][63][64] - The "Volume Model" is constructed based on trading volume data to predict market trends, while the "Feature Volume Model" incorporates specific volume characteristics to enhance prediction accuracy [11][63] - The "Smart Algorithm Model" uses machine learning techniques to analyze historical data and generate market timing signals [11][63] - The "Up-Down Return Difference Model" calculates the difference between upward and downward returns to assess market sentiment [12][63] - The "Calendar Effect Model" leverages historical seasonal patterns to predict market movements [12][63] - The "Long-Term Momentum Model" focuses on long-term price trends to identify potential upward movements [13][64] - The report evaluates the models as effective tools for market timing, emphasizing their simplicity and universality, aligning with the principle of "大道至简" (great simplicity) [8][63] - The models are tested across various indices, including the Shanghai Composite Index, CSI 300, and CSI 500, with signals ranging from neutral to bearish for short-term models and bullish for long-term models [11][63][64] - The "Volume Model" shows neutral signals across all broad-based indices [11][63] - The "Feature Volume Model" indicates bearish signals for the CSI 500 and All-A indices [11][63] - The "Smart Algorithm Model" provides neutral signals for the CSI 300 and bearish signals for the CSI 500 [11][63] - The "Up-Down Return Difference Model" transitions from bullish to neutral for the CSI 2000 and All-A indices [12][63] - The "Long-Term Momentum Model" maintains bullish signals for long-term market trends [13][64]