Core Viewpoint - The A-share market is currently experiencing a consolidation phase around the 3400-point level, with significant fluctuations in trading volume, indicating a psychological battle among investors [1][3]. Market Analysis - The market has seen a reduction in trading volume, with approximately 170 billion yuan in volume today, suggesting that large funds are locking in positions rather than selling off [3]. - The 3400-point level is viewed as a short-term target, with expectations for a rebound in sectors such as liquor, real estate, and insurance, which could lead to a larger market rally [3][5]. - The A-share market has lagged behind Hong Kong and U.S. markets, but there is optimism that the index could accelerate its recovery if key sectors reverse their downward trends [5]. Sector Performance - The TMT (Technology, Media, and Telecommunications) sector has seen a significant drop in trading volume, down by two-thirds compared to March, which raises concerns about its performance [5]. - Other sectors, including rare earths, healthcare, and food and beverage, have shown positive growth, while the liquor sector has also underperformed [5]. Investor Guidance - Investors are advised to maintain a simple holding strategy, focusing on position management and asset allocation, rather than being overly optimistic or pessimistic [7]. - The likelihood of the index continuing to rise is high, with no substantial logic for a major pullback, suggesting that the market may respond positively to favorable news [7].