After the &#34;Believe in Light&#34; main line reached a new high, the current market is gradually increasing in divergence, and the judgment is whether it is a phase rebound or a reversal, with the core focus on the logic of funds and fundamental support.
Currently, the market has not formed the conditions for a comprehensive reversal; it is more of a structural rebound, relying on expectations of liquidity easing and the resonance of the technology industry's prosperity, combined with the valuation repair after the previous market adjustment. The index shows a fluctuating upward trend, but lacks strong support from macroeconomic data and continuous improvement in corporate profits. The short-term rebound momentum mainly comes from fund clustering and emotional driving, and a trend reversal still requires further verification of subsequent performance and confirmation of policy implementation, making short-term fluctuations unavoidable.
The continuous rise and new highs of the &#34;Believe in Light&#34; main line are not coincidental; behind it are threefold support from industrial logic, fund consensus, and supply-demand patterns. The core relies on the sustained explosion of AI computing power demand, the accelerated iteration of global AI large models, which drives a surge in demand for core links such as optical modules and CPOs. The tight supply-demand pattern in the industry is difficult to alleviate in the short term, and the concentrated release of overseas orders further strengthens the prosperity expectations.
At the same time, a significant clustering effect has formed at the funding level. Against the backdrop of market contraction and fluctuations, funds are gathering in high prosperity and high certainty tracks, coupled with the fact that sector valuations have not been excessively overstretched, forming a virtuous cycle of sustained growth, becoming the most recognizable main line direction in the current market.
The duration of the current market main line depends on two key factors: the pace of performance realization and changes in external liquidity. The second quarter is a concentrated disclosure period for quarterly reports. If the &#34;Believe in Light&#34; related sectors can continue to realize performance, verifying the authenticity of the industry's high prosperity, while the liquidity easing tone remains unchanged, the enthusiasm for the main line is expected to continue further, likely throughout the second quarter.
However, caution is needed. If performance falls short of expectations, funds take profits, or external policies and geopolitical environments experience disturbances, the main line may undergo a phase adjustment, and there will be significant differentiation within the sector. Purely speculative targets will gradually retreat, while focusing on targets with performance certainty will have more sustainability.
The market style in 2026 is not &#34;either-or&#34;; there is no logic of completely abandoning traditional fields (old economy), but rather a structural differentiation.
Some undervalued, high-dividend traditional assets, relying on stable cash flow and valuation advantages, have certain defensive value and can help balance portfolio risks during market fluctuations. However, in the long run, the flow of funds has clearly tilted towards technology, high-end manufacturing, and other new productive forces, which have policy support and industrial growth space, becoming the core direction for long-term capital allocation. Opportunities in traditional fields are more about phase valuation repair rather than trend increases; blindly abandoning or excessively clinging to them is not a rational choice.
The core contradiction in the current market is the intertwining of strong main lines and sector differentiation, a game between short-term emotions and long-term logic. When the &#34;Believe in Light&#34; main line reaches new highs and divergences increase, and when traditional sectors and technology tracks show differentiated performances, how to grasp the main line opportunities while avoiding adjustment risks and balancing short-term gains with long-term layouts?
Theme: How to respond after &#34;Believe in Light&#34; reaches a new high?
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Is the current market a phase rebound or a reversal?
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Why does &#34;Believe in Light&#34; keep rising?
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How long will the main line of the market continue this round?
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Should we completely abandon Old Deng by 2026?
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Note: The content of this article is compiled by the editor based on the topic outline provided by the speaker and does not represent the speaker's personal views, nor does it constitute any form of investment advice

SOXL

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After the main line of "Believe in Light" reached a new high, the current market has seen increased divergence, making it difficult to determine whether this is a phase rebound or a reversal. The market has not formed comprehensive reversal conditions, mainly reflecting a structural rebound supported by liquidity easing and the prosperity of the technology industry. The short-term rebound momentum comes from capital clustering and emotional driving, while a trend reversal requires performance validation and policy confirmation. The continuous rise of the main line is supported by industrial logic, capital consensus, and supply-demand patterns, primarily relying on the explosive demand for AI computing power. If the relevant sectors continue to deliver performance, the enthusiasm for the main line is expected to persist, but caution is needed for potential pullbacks due to performance falling short of expectations or external disturbances

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Old Ma knows the way: How to respond after "Believe in Light" reaches a new high?