上周五，上证综指终结“三连阳”后回踩5日均线，最终周K线收出五连阴，A股的下跌趋势并未扭转。业内人士认为，目前尚难判断市场是否见底，预计股指短期内还将继续震荡探底，在这一过程中，投资者还需保持谨慎态度，适当参与一些结构性投资机会。

Last Friday，The Shanghai composite index ended“Three even Yang”Back to 5 day ma uplink after on，Final weeks K line charge out of five even Yin，A shares fall did not reverse the trend。The personage inside course of study thinks，It is difficult to judge whether the market see bottom，Stock index is expected to short term will also continue to shock the agent，In this process，Investors also need to remain cautious attitude，Appropriate participation some structural investment opportunities。

　　上周，上证综指小幅震荡走低，周跌幅0.79%，5个交易日中股指一度将近期低点刷新至2138.79点。上证综指自5月初击穿5周均线后，已经连续第十周运行在5周均线下方，上方的均线系统继续向下发散对指数形成压制，市场弱势形态恐难扭转。

Last week，The Shanghai composite index small shock slump，Weeks or 0.79%，Five trading days in recent low stock index once will refresh to 2138.79 points。The Shanghai composite index since early may breakdown 5 weeks after all line，The 10 consecutive ZhouYunHang in 5 weeks are offline party，The above all line system continues to spread down to the index formation pressure，Market weak form will not reverse。

　　从一周行业涨跌幅情况来看，石油、物资外贸、金融等板块上周收红，是市场呈现沪强深弱格局的主要做多力量来源。而酿酒板块上周大跌5.84%，贵州茅台(600519,股吧)、五粮液(000858,股吧)、老白干酒(600559,股吧)等龙头公司周跌幅均在7%左右，白酒股出现典型的强势股补跌走势。此外，环保、食品饮料、电子器件等板块的周跌幅超过3%。中小板个股也是大面积杀跌，中小板、创业板指数上周跌幅分别为4.1%和2.7%，中小市值相对密集的板块成为市场杀跌主力。

A week from industry situation go up drop，oil、Materials foreign trade、Financial sectors such as the red last week，Is the market presents strong weak pattern of the deep Shanghai main do much power source。And wine plate plunged 5.84% last week，Guizhou maotai(600519,Shares it)、Wu liang ye(000858,Shares it)、LaoBaiGan wine(600559,Shares it)等龙头公司周跌幅均在7%左右，The strength of the typical liquor shares appear for movements of falling。In addition，Environmental protection、Food and beverage、Electronic device such as a plate of weeks dropped more than 3%。Small and medium plate stocks also kill cheapen large area，Small and medium plate、Last week the gem index fell 4.1% and 2.7%, respectively，Small and medium-sized market value of the plates become relatively dense winners main market。

　　“但近期板块轮动速度偏快，把握的难度不小。短线市场可能依托沪指2150点一线震荡运行。”国金证券(600109,股吧)财富管理中心分析师马晋表示，“建议投资者在操作上维持中等仓位。”

“But recent sector rotation speed on the move，The difficulty of grasping not small。Short term market may be HuZhi 2150 points on a line running concussion。”Countries gold securities(600109,Shares it)Wealth management center analysts MaJin said，“Suggest investors in operation on maintaining moderate positions。”

　　而上周末，中国证监会在通气会上回应热点问题时指出，将在前两次降低交易费用的基础上进一步降低交易手续费，整体降幅将达到20%，具体方案预计在9月1日之前推出。这成为周末消息面最大的利好。

而上周末，The China securities regulatory commission at the hot issues in ventilation response when said，将在前两次降低交易费用的基础上进一步降低交易手续费，The overall drop to 20%，A specific plan on September 1, is expected to launch before。这成为周末消息面最大的利好。

　　西部证券(002673,股吧)分析师段安康表示，虽然总体来看，需求低迷经济疲弱态势仍未有明显改观，但随着地产销售持续回暖，基建投资继续发力和货币政策逐步见效，实际需求可能正在趋于稳定。由于经济真正见底，是市场开始企稳回升的重要条件，因此，段安康表示，当前仍然维持市场继续震荡的观点不变。

Western securities(002673,Shares it)Analysts period of peace and health said，Although the overall，The economy is weak demand downturn is still not clear trend change，But with the real estate sales continue to thaw，Infrastructure investment continued to send force and monetary policy gradually gets effective，实际需求可能正在趋于稳定。Because of the economic really see the bottom，Is the market began to stabilising the important condition of back up，so，Period of peace and health said，The current still maintain markets continue to shock the same view。

　　在两市继续震荡寻底的基础判断上，中原证券分析师张刚建议，激进的投资者在继续关注周期行业的同时，可适当关注上海本地股的中短期投资机会；稳健的投资者则建议耐心等待底部确立之后，关注中报业绩表现较好的部分二线蓝筹股的投资机会。

In the two cities continue to find the basis of concussion of judgment，中原证券分析师张刚建议，Radical investors continue to focus on cycle industry in at the same time，But proper attention Shanghai local strands of short-term investment opportunities；Steady investors will suggest the patience to wait for the bottom after establishment，关注中报业绩表现较好的部分二线蓝筹股的投资机会。