Group 1 - Market sentiment indicators showed a slight decline, with the sentiment score at 1.75 as of October 10, down from 1.85 on September 26, indicating a bearish outlook [8][11] - The trading volume for the entire A-share market increased slightly compared to the previous week, with a peak trading volume of 26,718.18 billion RMB on October 9, indicating improved market activity [14][16] - The financing balance ratio continued to rise, reflecting an increase in market leverage sentiment and improved trading atmosphere among investors [24][26] Group 2 - The model indicates a preference for small-cap value style, with a weak signal strength due to a slight decline in the 5-day RSI relative to the 20-day RSI, suggesting further observation is needed [30][41] - The short-term trend scores for industries such as banks, steel, public utilities, and construction decoration have shown upward trends, with non-ferrous metals currently having the highest short-term score of 98.31 [30][32] - High trading congestion in sectors like non-ferrous metals and coal, alongside lower price increases in sectors like automobiles and electronics, suggests potential volatility risks and opportunities for gradual allocation in low-congestion sectors like pharmaceuticals and beauty care [37][36]

2025 年 06 月 22 日 模型提示价量匹配度降低，市场情 绪回落较快 ——量化择时周报 20250620 证券分析师 王小心 A0230524100006 wangxx2@swsresearch.com 邓虎 A0230520070003 denghu@swsresearch.com 沈思逸 A0230521070001 shensy@swsresearch.com 联系人 王小心 (8621)23297818× wangxx2@swsresearch.com 本研究报告仅通过邮件提供给 中庚基金 使用。1 权 益 量 化 研 究 证 券 研 究 报 告 请务必仔细阅读正文之后的各项信息披露与声明 量 化 策 略 ⚫ 市场情绪进一步下行：市场情绪指标数值为 0.05，较上周五的 0.8 进一步下行，代表市 场情绪进一步回落，观点偏空。 ⚫ 价量匹配度降低，市场情绪继续下行：价量一致性（匹配度）降低代表当前资金活跃度欠 缺，资金观点分歧加剧、短期情绪不确定性增强；行业涨跌趋势指标继续提示行业涨跌趋 势较弱，指标位置虽略有提升但与本周行业普跌，少数上涨有关，因此我们不认为趋势方 面有显著改善。另外 PCR ...