A-shares Closing: Subtle Changes Under 3977 Points and Post-Holiday Strategy

Today the market surged to 3977 points, but behind this number lie many signals that warrant caution. For investors holding stocks or waiting on the sidelines, the opening level after the holiday is particularly important.

Let's first look at the index trend—there are issues behind the consecutive gains. Today opened high, but there weren't many surprises; it's still the same old story: the index rises while individual stocks do not. This disconnect may seem not extreme, but it can easily be masked by the appearance of continuous upward movement. To put it plainly, the main forces are more focused on stability before the holiday, avoiding risky bets due to uncertainty. If the first trading day after the holiday cannot break this deadlock, a correction cycle is likely to follow.

What does the data say? At the close, 2,424 stocks rose while 2,827 fell across the two markets. This contrast is quite stark—the index is holding up despite more stocks declining than rising. Trading volume was also unremarkable, just a slight increase, reflecting the true state before the holiday: retail investors and institutions are both taking a step back, aiming for a smooth transition.

But not all pessimism. There are two sectors worth paying attention to. The commercial aerospace concept has already run a long wave of main upward movement, and not only has it not ended, but it has shifted from short-term emotional speculation to a trend-based rise. Another is the data technology sector, a branch of big tech, which is performing strongly under favorable conditions and shows signs of taking over. Interestingly, the latter can completely replicate the approach of the former—this "learning from others" often proves easier than creating a new breakthrough.

Now, how to view the current market? It can be simplified into three levels: First, if the index keeps rising, one might judge the market as bullish—this is too superficial; Second, noticing the imbalance between individual stocks and the index indicates that the market isn't as optimistic as it seems; Third, recognizing that despite continuous rises, the index still shows resilience, and some sectors are switching to the main upward wave—truly understanding this reveals the market's logic. Post-holiday positioning depends on which level you can see.