In the morning, the financial sector strongly pulled up the index, but small-cap stocks performed averagely. The Shanghai Composite Index broke through its post-holiday high, but it's difficult to achieve further gains in one go.

Tomorrow is April 19th, coinciding with the curse of China Merchants Securities' strategy meeting and the stock index futures delivery day. Could today's rally be setting up for a sell-off tomorrow? For cautious comrades, it's advisable to reduce positions in the afternoon—better safe than sorry.

Of course, with policy support, the overall trend of the stock market remains firmly optimistic, and the direction is clear. However, solid earnings are still the king.

In terms of sectors, low-altitude economy dominated today, along with central state-owned enterprises (SOEs). Let’s make a prediction: if the market drops tomorrow, which sector will stand out? The answer is clear: central SOEs.

Central SOEs are inherently market stabilizers. For the index to break through 3,100, central SOEs must lead the charge. As I mentioned this morning, central SOEs might ride the wave of the new "National Nine Articles" policy to launch a massive rally.