There are 5 trading days left until the end of the year, and the market is facing a critical test.

From an index perspective, it continued to hit new highs today, with the overall trend leaning towards a bullish pattern. But the key issue at this stage is whether the critical level of 3936 can hold steady and break through—once confirmed, there is still a chance to surge towards 4000 points. Currently, the index still needs time to confirm. Although the market is strong, avoid blindly chasing the rally. From a moving average perspective, observe the support levels below (5-day, 10-day, 20-day moving averages are basically converged); as long as they are not broken, there is no big problem.

However, the index is only one aspect; the real opportunity still depends on individual stock performance.

In terms of sector rotation, commercial aerospace remains strong, with high capital involvement, clearly becoming the main theme in December. After a pullback yesterday, it rebounded today, especially low-priced stocks in the later ranks also started to catch up, with several large jumps of around 20cm.

Semiconductors and storage chips also performed well, driven by positive news catalysts. Interestingly, when the tech sector is strong, consumer sectors often retreat—classic seesaw effect. Although the retail sector rose broadly today, it experienced a slight pullback. Tomorrow’s trend will be crucial; the support from the 10-day moving average is strong, with a steeper upward angle, so it’s worth watching whether funds will flow back in.

Honestly, the strength of the consumer sector is still not very ideal, and the sector effect has significantly diminished. Basically, only the leading stocks with "hundred" in their names are performing, while other lower-ranked stocks are not catching the gains. So, this sector should be viewed more as a short-term idea.