The market experienced a significant downturn today, with major indices facing heavy selling pressure. The ChiNext Index, in particular, saw a sharp decline of 7%, reflecting widespread weakness in growth stocks. Across the broader market, the sell-off was severe, with more than 600 individual stocks recording losses exceeding 10%.

Despite the overall bearish sentiment, some technical indicators are pointing to potential rebounds in specific areas. A MACD bullish crossover signal has formed for a select group of stocks, suggesting their recent price declines may be losing momentum and a period of consolidation or recovery could be ahead. These stocks have shown relative resilience and are currently exhibiting positive momentum amidst the broader market turmoil.