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First of all, I might as well draw a long-term framework for the market here. Please look at the picture below.Statement of the work: Personal opinion, for reference only.Statement of the work: Personal opinion, for reference only.

First of all, I might as well draw a long-term framework for the market here. Please look at the picture below.Second, the smashing of funds in the north. From August 18th this year, the intraday specific transaction data of northbound funds will be lost! However, we can still see the histogram of the capital flow of the constituent stocks of the land stock connect. Please look at the picture below. As we can see from the figure below, a lot of money flowed out of the northbound capital this morning. Therefore, we see that the weight of some large-scale markets has fallen sharply today, such as the liquor sector. This is something that can't be helped. Because institutional funds like Northbound Capital rarely buy those small-cap stocks that lose money.Afternoon comment: There are two reasons why A shares fell across the board in early trading. What should we do next? Where is the support point?

First, good cash. Everyone knows that the rebound in the last two days is actually the expectation of a heavy meeting. After the meeting, after the favorable situation appeared, the market had a favorable cash effect! In fact, almost every time the market goes this way. Before the favorable situation appeared, the market began to rise, but once the favorable situation landed, the market actually fell.First of all, I might as well draw a long-term framework for the market here. Please look at the picture below.