节后怎么看:再平衡仍是主线,但新的边际变化正在出现 十一假期前,市场已经经历了一轮较为明显的再平衡,前5%个股成交额集中度从49.8%的高位明显回落,极致拥挤带来的筹码压力正在缓解。市场仍是 “长叙事未破、新叙事未出、拥挤度初步缓和”,基准路径仍是“反弹—高波震荡”。但三个边际变化值得重视:盈利现实斜率开始放缓、内需政策重要性提升、海外科技环境边际改善。相比节前,科技反弹的土壤有所改善,而地产及...
Source Link节后怎么看:再平衡仍是主线,但新的边际变化正在出现 十一假期前,市场已经经历了一轮较为明显的再平衡,前5%个股成交额集中度从49.8%的高位明显回落,极致拥挤带来的筹码压力正在缓解。市场仍是 “长叙事未破、新叙事未出、拥挤度初步缓和”,基准路径仍是“反弹—高波震荡”。但三个边际变化值得重视:盈利现实斜率开始放缓、内需政策重要性提升、海外科技环境边际改善。相比节前,科技反弹的土壤有所改善,而地产及...
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