金吾财讯 | A股早盘探底回升，截至午间收盘，沪指涨0.32%，深成指涨1.25%，创业板指涨1.73%。板块方面，光纤概念、光刻机、激光雷达、存储芯片等板块涨幅居前；核力发电、煤炭、可燃冰、医疗美容等板块受压居前。国投证券研究认为，随着A股高切低指数回落至区间下沿30%，科技板块止跌回稳，意味着本轮再均衡行情已临近尾声。每次大跌之后总会有变化，每次高切低之后也都不会与此前一模一样，有些品种跌下去后就再也回不来了，且反弹最持续的品种都未必是此前下跌最多的品种。基于2016年4月至2026年7月共十一轮高切低样本进行观察，约70%-80%概率下是主线大换血，20%-30%概率是仍然是同主线，即便前后是同主线，核心品种也发生一些变化。显然，景气和产业趋势是主线形成和延续的必要条件，否则高切低之后易走向低位无序轮动或者高低位反复拉锯的无主线阶段。
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