市场若继续调整，逢低布局跨年行情

Group 1 - The report indicates that the A-share market is experiencing a cautious sentiment with insufficient willingness for new capital to enter, leading to accelerated sector rotation and lack of sustainability in trends [3][8] - It emphasizes the importance of two key upcoming events: the Federal Reserve's meeting after December 10, which may influence global liquidity expectations, and an important domestic meeting that will set the tone for China's economic policy for the coming year [3][8] - The report suggests that short-term fluctuations or adjustments do not affect the medium-term positive outlook, recommending a focus on individual stocks rather than indices, and strategies such as balanced allocation and high-low trading [4][9] Group 2 - The coal industry saw significant gains due to strong demand during the heating season and low historical prices for thermal and coking coal, indicating potential for further price increases [7] - The pharmaceutical sector, particularly traditional Chinese medicine and flu-related stocks, showed resilience and is expected to have a rebound due to previous underperformance and ongoing demand driven by an aging population [7][8] - The report advises investors to select stocks with performance support for low-position investments while avoiding high-valuation stocks lacking earnings support [4][9]