Xingyu Review 0403: During Qingming Festival, the rain is falling, and the market's confidence is shaken.

Recap Index:[Taoguba]
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1. Recap Summary (including: consecutive-limit-up ladder, market data overview, market indices, intraday summary, sector/ theme summary).**
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2. Reasons for Limit Ups (including: consecutive-limit-up charts, one-word limit-up stocks, n-shaped reversal limit-up boards, ChiNext limit ups, STAR Market and NEEQ limit ups, hot theme categorization, other limit ups, limit-ups that opened).**
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3. Featured Data Additions (including: recent limit-up stocks, ChiNext index).**
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4. Dragon and Tiger榜 data (including: tracking proprietary traders, institutional buying/selling, top purchases by trading departments).**
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5. Sentiment Index (including: hot-spot intensity, sentiment nine-grid, monitoring pool, 3 major “grouping” zones interval returns).**
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6. Individual Stock Analysis (sorted by limit-up time; belongs to individual stock limit-up reasons with further clarification or breakdown).**
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7. Recap Summary**

6th board: Tianjin Pharmaceutical
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2nd board: Huiyuan Communications, Chongyao Holdings, Xinneng Taishan**

Market data: 698 red-trade stocks, 4,459 green-trade stocks; 36 stocks hit limit up, 24 hit limit down; 88 stocks closed big positive, 429 closed big negative; “turnback” wave -5: 715; “turnback” wave -10: 22; “attack” wave +8: 53.

Indices: total trading value across both markets 1.66T; shrinking by 1,865 bn; the main index is down 1.00%, closing at 3,880; high 3,929; low 3,871. The main index fell for one more day on Friday—this looks like it’s going to “probe the second foot,” making the second leg. It’s normal that it fell on Friday. Nobody knows what the yellow-haired gang over the Qingming holiday is planning; the situation in the Middle East, after seeming to de-escalate, still doesn’t seem to have de-escalated on the ground. This kind of situation is different again. On Friday, the market was also worried that something might happen during the Qingming holiday. And added to that is the “muffled punch” of 2,700+ points on the return from last year’s Qingming holiday—you really have to guard against it. So the selloff in the main market on Friday is also reasonable. As for how things go after the holiday: in a pessimistic view, it’s to go “probe the second foot,” making the second leg. In an optimistic view, after opening lower it gets pulled back up and continues to oscillate back and forth. But no matter how it goes, a big breakdown type of selloff like the end of last month probably won’t show up again. The overall trend for the entire month of April is still biased toward “first suppress, then lift.”

Regarding the tape: since the indices are falling like this, the tape won’t look much better. On market data, it’s another “ice point.” Counting Thursday’s ice-point data, it’s a consecutive double “ice” situation. From Friday’s market data, you can see that the number of red-trade stocks is under 700—broad-based weakness. The market basically has no real hot themes. Only the optical communications sector counts as one hot theme: within the fiber-optic theme, the stocks like FeiChang, DekoLi, GuangJu, and Xinneng Taishan are still relatively strong. The medical sector, which has been strong for a few days, had a bigger split on Friday. Besides Tianjin Pharmaceutical, which is the highest board and still managed to advance strongly, some of the more core ones like MinoVaa and Wanbangde closed down. On Friday, market turnover value dropped to only 1.5T—reaching a near “dead-volume” level. Ever since 2 trillion became normalized, anything close to 3.5B has often been a rebound opportunity. Friday’s market data is similar to March 20’s market data. Will the first day after the holiday follow the accelerated走势 of March 23? Here, you also need to watch whether there are major negative catalysts in the external environment during the Qingming holiday. If there are none, then it may just be a small gap down followed by a rebound unfolding. From my personal perspective, though, I actually hope to see a situation like March 23—then the second probe and second foot can be confirmed, and you can play it again. In short, personally I think next week doesn’t need to be pessimistic.

2. Reasons for Limit Ups
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Consecutive-limit-up stocks: 4 stocks, 35 bn yuan**

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One-word limit-up stocks: 1 stock, 80M yuan**

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n-shaped reversal (reversal-plus-limit-up) stocks: 4 stocks, 8B yuan**

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ChiNext limit-up stocks: 4 stocks, 35.6 bn yuan**

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STAR Market limit-up stocks: 4 stocks, 8B yuan**

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Fiber optics and optical communications: 11 stocks, 199.2 bn yuan**

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Other artificial intelligence: 6 stocks, 3.56B yuan**

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Robotics: 7 stocks, 8B yuan**

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Healthcare: 4 stocks, 7.42B yuan**

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Chips: 8 stocks, 8B yuan**

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Other: 7 stocks, 30.3 bn yuan**

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Consecutive-limit-up boards that opened: 5 stocks, 86.9 bn yuan**

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First-board stocks that opened: 9 stocks, 8B yuan**

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3. Featured Data Additions**
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Recent limit-up stocks:

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ChiNext index:

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4. Dragon and Tiger榜 data:**
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Tracking proprietary traders:

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Institutional buying/selling:

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Top purchases by trading departments:

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5. Sentiment Index:**
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Hot-spot intensity:

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Sentiment nine-grid:

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Monitoring pool:

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Monitoring pool interval returns:

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Top 19 five-day interval returns among A-shares across both markets:

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6. Individual Stock Analysis:**

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