三大指标看本轮调整的位置

Group 1 - The report indicates that the current market adjustment is primarily triggered by trading and sentiment factors, with three key indicators to assess the adjustment position [17][41]. - The first indicator, market congestion, shows that after recent fluctuations, trading pressure has significantly eased, with many sectors now at moderate to low congestion levels [17][41]. - The second indicator, rotation intensity, has reached a high level, and the upward slope has noticeably slowed, suggesting a potential window for new consensus and mainline formation [21][41]. - The third indicator highlights a rapid decline in A-share trading volume, approaching the lowest levels since the beginning of the year, indicating that the market is gradually building momentum during the adjustment [10][41]. Group 2 - The report draws parallels to the core asset market established in April and May 2019, suggesting that the true mainline will gradually solidify during the current market adjustment [14][41]. - It outlines three phases of the 2019 market: the initial rebound phase with unclear mainlines, the second phase where consensus on core assets began to form during market corrections, and the third phase where a unified front for core assets was established [31][34][41]. Group 3 - The report emphasizes the importance of focusing on leading blue-chip stocks and core assets, which have become significant sources of excess returns this year [49][69]. - It notes that the leading stocks have outperformed their respective sectors, with the top five stocks in various industries showing significant excess returns compared to the overall industry performance [69]. Group 4 - The report introduces the "15+3" investment strategy, which targets assets with a growth rate of 15% and a dividend yield of 3%, positioning them as key assets in the current market environment [57][58]. - This strategy is seen as a way to navigate market volatility, providing a balance between growth potential and income stability [57][58]. Group 5 - The report recommends several sectors for June, including home appliances, electronics, chemicals, new energy, and pig farming, highlighting their potential for recovery and growth [60][61]. - It specifically mentions that the home appliance sector is benefiting from sustained high demand and improved real estate policies, while the electronics sector is poised for growth due to the global consumer electronics cycle [60][62].