[Weekly Strategy View 0727]

English summary

1. Last Thursday and Friday, A-share market was nearly lifeless, but with stability funds stepping in, the market bottomed near 3740 (20-month line), volatility declined, and turnover fell below 2 trillion. Weekend news was generally positive: US-Iran conflict eased, oil prices fell, all waiting for Trump's TACO. This week is also a super week: external big tech earnings flood, FOMC meeting, and ChangXin's listing today, with expected 100-200 billion yuan trading volume; market cap game will not be discussed. Weekend anecdotes of arrests and quant trading may only boost subjective sentiment, but without further actions, effects will be limited. Other industrial news focuses on domestic computing power, memory, large models, and CATL. 2. The Shanghai index forming a bottom is broadly agreed; short-term support has appeared; funds believe a second test would be more decisive. Divergence remains on when ChiNext and STAR Market will bottom. ChiNext is about to see its annual line; if ChiNext bottoms, STAR should follow, also depending on external pace. Volatility has not fully subsided. ...