Yesterday, the market once again experienced a "roller coaster"行情——the Shanghai Composite Index surged to 4098.78 points before starting to fluctuate and retreat, while the ChiNext Board suddenly broke through the previous resistance level of 3331 points, hitting a new high. The overall market showed a divergence pattern, with 2600 stocks in the red, but over 2300 stocks declined by less than 2%. This kind of movement may look a bit frightening, but there's no need to panic—this is a normal consolidation in a bull market, not a sign of a crash.

**Hot Sector Situation**

The chip and semiconductor sector is really strong, with stocks in the photolithography direction hitting the limit up in a straight line, and the storage track also following suit with涨停. Commercial aerospace is also active, with many stocks hitting the limit up consecutively. Topics like brain-machine interfaces and nuclear power are also quite hot. However, there is some differentiation—some stocks have experienced deep corrections, indicating not all stocks can keep up. In simple terms, the main trend remains in chips and technology, while other themes are more short-term hype, with sustainability still uncertain.

**Why We Still Remain Optimistic About the Future**

1. Trading volume remains high—total daily turnover reached 2.85 trillion yuan, indicating sufficient market participation.

2. External markets are helping—major US stock indices are hitting all-time highs, and foreign capital's bullish sentiment is strong, supporting A-shares.

3. The chip sector has solid fundamentals—storage chip prices are rising, and demand for AI computing power continues to explode. This is not hype; there is real substance behind it. The stocks that pulled back after rising are just short-term profit-taking, and the overall trend remains unchanged.

From a technical perspective, the Shanghai Composite Index has deviated too far from its moving averages in the short term, and a correction is needed. However, the massive volume of 2.85 trillion yuan provides strong backing for this rally. Even if there is a pullback later, it could be a rare opportunity for low-cost entry.

**Next Steps**

Holding stocks and waiting for gains is the main strategy. If the index retraces to around 4042 points, consider buying on dips. When approaching 4100 points, you can moderately do some T+ trades, but avoid chasing highs or selling in panic.

A special reminder: in the commercial aerospace and brain-machine interface sectors, some stocks have already gained significantly, and are in the "high place and hard to sustain" position. Don't blindly chase the rally.

The focus should still be on three main lines: first, chips (including photolithography and storage), second, robotics (related mass production expectations), third, AI hardware (demand for computing power is surging). These are the true fundamentals driving the market, not short-term hype.

In the short term, watch whether 4184 points can be突破, and further look at 4200 points as a key level. The medium and long-term targets are even larger. There is still an opportunity to get in at current levels, as long as you stick to the main track, the subsequent gains will not disappoint you.