Zhang Yaliang of Datong Securities: online sorting on the 20th

What worried people most yesterday was that the trading volume of the two stock markets continued to shrink rapidly. The Shanghai stock market shrank from 23.5 billion last Thursday to 14 billion last Friday, and then to 11 billion yesterday, even less than half the level of last Thursday; The same is true for Shenzhen Stock Exchange, which shrank from 13.9 billion yuan last Thursday to 9 billion yuan last Friday, and then to 6 billion yuan yesterday, which is less than half of the amount last Thursday. In addition to the obvious shrinking of capacity, the overall performance of the market yesterday should be said to be a relatively normal and healthy operation. The current 5-day and 10 day moving averages have been dead ended. The 5-day moving averages began to turn last week, and the 10 day moving averages are also fast. Above 1165 points has become the resistance level for the short-term rebound of the market, while the 20 day moving averages are slowly moving upward at the speed of 6 points every day动，对股

The finger has formed support again, and the half year line has moved to 1138, and they will overlap on Tuesday. Technically, there are two important indicators that must be guaranteed if there is a market situation in the future. First, the low point of last Friday should not be broken again. If it breaks again, it can basically be said that the market cannot continue; Second, the unilateral trading volume of the Shanghai Stock Exchange should at least remain at the level of more than 10 billion yuan. Occasionally, it can be tolerated if it shrinks to less than 10 billion yuan a day. However, if it shrinks to less than 10 billion yuan for two consecutive days, it is a very dangerous signal. Therefore, we believe that this week's market is mainly about the consolidation above the 20 day moving average.