L Trend Is A Stage, A Share Market Is Always Unexpected.

The L trend is a phase, not one or two years.

This means that at least in the next two years, the A share market will not have the support of the macro economy if it wants to go bull market.

In the case of macroeconomic L operation, the stock market is also more likely to run as L.

There are at least two aspects of the stock market crash that day: first, the securities and Futures Commission has made clear that it is carrying out "analysis and research" on the impact of the stock market regression on the market, to a certain extent, consolidating market rumors, and the market is worried about the depreciation of shell resources.

The two is the acceleration of size reduction.

Data show that 1-3 months this year, the size of non reduction is 9 billion 600 million, 9 billion 800 million and 14 billion 200 million yuan, a month to month increase.

In April, the amount of the reduction was increased to 18 billion yuan.

After entering the first trading week in May, the reduction of major shareholders has reached as high as 6 billion 700 million yuan.

In May 4th, 5 days and two days, there were 20 companies with no reduction in size.

Therefore, the responsibility of the stock market crash in May 9th should not be pushed to the authorities.

On this basis, we may be more objective when we look at the issue of authority signals released to the stock market.

What signals did the authorities release to the stock market?

One of the signals is also the biggest signal.

Operation can not be U and V, but the trend of L.

The L trend is a phase, not one or two years.

This means that at least in the next two years, the A share market will not have the support of the macro economy if it wants to go bull market.

In the case of macroeconomic L operation,

It is also possible to operate L.

Signal two: the state will not make artificial cattle, and the national bull market will not be staged in China's stock market.

The authoritative person clearly stated that "we have defined the policy orientation of the stock market, foreign exchange market and the real estate market, that is, returning to their respective functional orientation, respecting their respective development rules, and not simply acting as a means to ensure growth.

"According to this statement, it is obviously not desirable to build a bull market to support the development of the real economy.

Moreover, the authorities also said that there should be no need to leverage growth to push economic growth.

The authority said that trees can not grow to the sky, high leverage will inevitably bring high risks, and poor control will lead to systemic financial crisis, which will lead to negative economic growth and even save people's savings.

Because of this, the "lever bull market" is not supported by this authority.

Signal three: authoritative people emphasize the current and future period.

This is the main contradiction. The structural reform of supply side must be strengthened and must be taken as the main direction.

It is imperative to unswervingly push forward the structural reform of supply side as the main line, focus on correcting the mismatch of supply and demand structure and distortion of factor allocation, and comprehensively implement the five key tasks of "capacity reduction, inventory elimination, deleveraging, cost reduction and compensation".

It is also for this reason that investors need to pay attention to the opportunities for speculation of some stocks corresponding to the structural reforms on the supply side.

These stocks are likely to be repeatedly hyped up by the market.

Signal four: strengthening market regulation will become a normal stock market.

Authorities once again mentioned that "we should strengthen market supervision, improve the quality of information disclosure, and crack down on insider trading and stock price manipulation."

"Therefore, in the coming days, stock market regulation will be further strengthened, but not relaxed. There will be more insider trading cases and stock price manipulation cases being investigated by the regulatory authorities.

Signal five: financing function remains the most important function of Chinese stock market.

Authoritative sources said that the stock market should be based on restoring market financing function, fully protecting investors' rights and interests, and giving full play to the regulating function of market mechanism.

Based on the above signals issued by authoritative people to the stock market, we hope that China's stock market will not be realistic in recent years.

On the contrary, the bottom shock is the most likely trend for the stock market in the coming period.

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