Report Summary 1. Report Industry Investment Rating No information provided. 2. Report's Core View - The short - term view of the stock index is oscillating strongly, and the medium - term view is rising. The continued upward trend of the stock index requires policy support, and the market risk preference is positive in the near term [1][4]. 3. Summary by Relevant Contents 3.1 Variety View Reference - Financial Futures Stock Index Sector - For IH2509, the short - term trend is oscillating, the medium - term trend is rising, the intraday trend is oscillating strongly, and the reference view is also oscillating strongly. The core logic is that the positive policy expectations provide strong support [1]. 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - The varieties include IF, IH, IC, IM. The intraday view is oscillating strongly, the medium - term view is rising, and the reference view is oscillating strongly. The core logic is that the stock indexes oscillated and slightly corrected yesterday. The total stock market turnover was 1527.4 billion yuan, an increase of 52.8 billion yuan from the previous day, and more than 3300 stocks fell. The inflation data in June showed weak domestic demand. The rebound of the stock index since late June was driven by policy expectations. The domestic inflation is weak, and the endogenous growth momentum of domestic demand is insufficient, while external demand may be affected by tariffs. Policy support is needed, and the market is waiting for the policy implementation after the Politburo meeting in July. So the stock index will oscillate strongly in the short term [4].