#2024.10.24 Morning Market Strategy# The market has risen for four consecutive days, with the Shanghai Composite Index reclaiming the 3300-point mark yesterday, largely thanks to the financial sector. The index has been maintained steadily over the past two days.

There's no issue with trading volume, which has remained around 1.9 trillion yuan over the past two days. However, despite the high volume, funds lack a clear direction for attack, leading to a chaotic market.

Various themes rotate multiple times within a single day. From yesterday's opening to the close, the gains were dazzling, but none were sustained.

In other words, while the index appears stable, selecting sectors and individual stocks has become more challenging as rotations favor lower positions. Avoid chasing intraday surges.

The index is likely to continue grinding until the end of the month, with many funds engaging in low-buy-high-sell strategies. In this rotational market, chasing rallies will only lead to losses!

There is no clear main theme at the moment. This week is a vacuum period for market leadership since the tech sector's decline, with no successor yet.

Now, let’s look at sector and thematic opportunities:

1. Financial Sector

The financial sector has been the stabilizing force over the past two days, stepping in to support declines and cooling overheated rallies. The core stock, Tianfeng Securities (601162), is key.

Tianfeng Securities is the leading stock in this financial wave. Although it retreated after an intraday surge yesterday, its appearance on the Dragon & Tiger List (with Liuyi Road as a major buyer) is noteworthy.

Without Liuyi Road’s involvement, the stock might have been in trouble. Now, we can observe today’s reaction—if it revives, that would be impressive.

If Tianfeng Securities holds up, other financial stocks may follow. If the financial sector falters, the index may face short-term adjustments.

2. Chips/Semiconductors

The chip sector, which showed the strongest momentum last Friday, has seen no meaningful rebound for three days. Without a recovery, market sentiment won’t improve.

The sector’s core stock, SMIC (00981), has also corrected for three days and is approaching its 5-day moving average. Today, we’ll watch whether it can bounce back at this level.

As a main theme, the chip/semiconductor sector must stabilize for market sentiment to reignite. If semiconductors rebound, photoresist stocks may lead the charge—though this is just speculation.