东吴证券：接下来要关注大盘的强度

Group 1 - The market's strength should be closely monitored, especially after a significant volume drop, indicating potential volatility if the upward trend does not continue [2][3] - Three narratives of China's asset revaluation are still unfolding: high-quality economic development, policy support for capital markets, and recovery in asset valuations [4][5] - The A-share market's investability has increased, with the total market value surpassing 100 trillion yuan and the Shanghai Composite Index reaching a nearly ten-year high, attracting more long-term capital and foreign investment [5] Group 2 - A comprehensive bull market requires further accumulation of positive factors, including improved fundamentals and demand recovery, rather than solely relying on deeper integration of Chinese enterprises into global supply chains [6][7] - The current market is characterized by a slow bull trend, with significant structural opportunities and a shift from quantity to quality in the profit-making effects, particularly in the technology sector [8][9] - The long-term outlook suggests a high probability of reaching historical highs, with a focus on large technology companies and high-growth small and medium enterprises [9]