#2024.6.21 Morning Strategy# The market continues to bottom out. Yesterday, except for the STAR Market, all others surrendered. The Nth defense battle has begun.

The low-volume trend has lasted for a month, and the index has basically been in a one-sided decline for a month. Most people have chosen to lie flat, and the market has entered a vicious cycle stage.

To break the deadlock at this time, there must be extreme movements—either a large bullish candle with high volume, the so-called "one bullish candle changes three views." However, without external intervention, this possibility is too small.

The other extreme is a sharp or steep decline—the so-called "no destruction, no construction." A panic sell-off might attract funds to enter the market for bottom-fishing.

Currently, the latter possibility seems more likely.

Although the index held the 3,000-point mark yesterday, large-cap stocks clearly propped up the market, and there was no fund response. Today, it may still lose this level. If it breaks, it should be a buying opportunity.

Now, let’s look at themes and individual stocks:

1. Vehicle-Road Coordination

To be honest, the strength and sustainability of the vehicle-road coordination theme have been quite good recently. Huaming Intelligent (300462.SZ) hit four consecutive 20cm limit-ups, Suoling Shares (002766.SZ) continued with four limit-ups, and Jietong Technology (002869.SZ), though breaking the streak, showed decent support intraday.

From policy level to the "10cm core + 20cm elasticity" model, it’s very similar to the low-altitude economy theme.

If there are daily news about local governments supporting vehicle-road coordination, it will look even more alike. The key is volume—eagerly awaiting resonance.

Whether the vehicle-road coordination theme can continue to strengthen depends on whether the above-mentioned stocks remain strong and drive the sector.

2. Semiconductors

The only positive from the Lujiazui Forum the day before yesterday was strong support for "hard tech."

So, if the index is to bottom out and rebound, semiconductors—the hardest tech sector that has moved in sync—will likely continue to perform.

The participation strategy is to buy the dip at the index’s breakdown points.

3. Big Finance

According to past habits of the theme, the closer the index gets to 3,000 points, the more opportunities it presents—especially when it first breaks below 3,000. Often, financial and securities stocks step in to lift the index back above 3,000.

The stocks that moved first yesterday are likely to be more explosive when the theme erupts.