在B股暴跌以及市场谨慎情绪弥漫下，沪指本周震荡走低，尽管在击穿2132点后一度反弹，但做多量能匮乏，沪指周五报收于2128.76点，周线下挫1.84个百分点，这已然是连续六周收出阴线。

In B shares tumbled and market cautious diffuse mood，This week HuZhi shock slump，Although in broke 2132 points after rebound once，But do more than quantity can shortage，HuZhi at Friday at 2128.76，Zhou line fell 1.84%，This are already six weeks out for the Yin line。

　修复性行情值得期待 Repair sex market something to look forward to

　　《大众证券报》：沪指本周击穿“钻石底”，并创盘中新低，周线6连阴的背后，能否有修复性行情的可能？

《Public stock certificate report》：HuZhi breakdown this week“Diamond bottom”，And plate and low，Zhou line 6 even Yin behind，Can repair the market may have sex？

　　国联证券策略分析师/王杰：由于各大指数的走势不同步，权重指标股的走势也出现较大分化，沪指由于银行股和“两桶油”的下跌，导致了创新低接连出现，但从深成指、中小板指来看，与沪指2132点相对应的低点还是有一段距离的，因此指数存在局部失真的特点，所以沪指的新低不断出现就不是那么意外，也不必那么恐惧。从沪指的月K线走势来看，下跌的持续时间已经达到了3个月左右，这和年初反弹开始前的状况相类似，8月份上涨的概率比较大，因此修复性行情是非常值得期待的。

The nl securities analyst/wangjie strategy：Because each big index trend not synchronization，Weight index on the movements of the shares also appear larger differentiation，HuZhi because of bank stocks and“Two barrels of oil”fall，Led to a new low for appear，But from shenzhen composition index、Small and medium plate refers to come to see，And HuZhi 2132 points corresponding lows or some distance，So the existence of the local distortion index characteristics，So HuZhi low appear constantly is not so accident，Also need not be so fear。From the HuZhi on K line trends and see，The duration of the fall has reached about three months，This early and started to rebound of similar situation before，In August the probability is rising，So repair sex prices is very be worth to expect。

　　东北证券(000686,股吧)策略分析师/沈正阳：从技术上背离的情况看，市场在超跌以后有反弹的要求，但是相比较2008年而言，也出现过周线8次连阴的情况，因此，在谨慎情绪下，投资者可以选择不做多，短期估空的风险可能会更大。从盘面上看，在市场大幅杀跌后，惜售情绪上升，部分权重板块也有企稳的迹象，比如煤炭、水泥、工程机械、银行股等；从政策上看，市场也注意到管理层即将召开的工作会议，那么对于经济形势的重新判断，特别是政策的释放也会有一定的预期。

Northeast securities(000686,Shares it)Strategy analysts/ShenZhengYang：On the deviation from technology to see，The market in the fall to rebound after the requirements，But compared to 2008 for people，Also has appeared zhou line 8 times even Yin，so，In the cautious mood，Investors can choose not to do more，Estimate the risk of short-term empty may be more big。Look from the disk，In the market after the kill drop sharply，Rised mood rise，Part of the weight plate also have signs of stabilising，Such as coal、cement、Engineering machinery、Bank shares；Look from the policy，The market also pay attention to the management to the upcoming work session，So to the economic situation to judgment，Especially the release of policy also can have certain expectations。

　　所以，在操作上，建议关注两市能否有量能放大上行的过程，如果能有效突破2170点-2180点的压力，则可以选择加仓搏反弹，如果没有量能出现，就需要保持谨慎；轻仓的投资者则可以试探性的建仓。对下周来说，最关键的还是要看股指周一的表现，由于市场连续遭遇“黑色星期一”，因此，如果下周一两市小幅上扬，则市场人气将获得极大的改观；如果大跌，那么，仍很难改变股指震荡下行的态势。

so，In operation，Advice on two city can have quantity can enlarge uplink process，If can effectively break through 2170 points-2180 points of pressure，It can choose to add warehouse cardiac rebound，If no quantity can appear，Need to be cautious；Light of the storehouse investors are tentative can warehouse。For the week，The key still should see the performance of the stock index on Monday，Due to the continuous market experience“Black Monday”，so，If a two city to rise slightly next week，The market popularity will get great change；If plunged，so，Still it is difficult to change the posture of the stock index concussion downlink。

　关注下半场布局主线 Focus on the second half main line layout

　　《大众证券报》：从历史上看，沪指从未年线三连阴，今年会否出现？A股市场是否进入布局的好时候，投资主线有哪些？

《Public stock certificate report》：Look from the history，HuZhi never years line three even Yin，This year will be no appear？The A share market is entering the layout of the good time，What are the main investment？

　　王杰：沪指2012年年线收阴的概率较低。今年以来，沪指开盘点位为2212点，只要收盘高于这个点位就是阳线，从当前的盘面看，差距仍在百点之内，然而下半年行情有值得期待的因素：第一，以6124点算的话，下跌持续了近5年，沪指跌去4000多点，时间周期和超跌程度也允许出现比较适量的反弹；第二，按照股市提前实体经济3到6个月的规律来看，目前实体经济见底在即，且今年三季度末期见底的概率较大。因此下半年的上涨行情概率很大，20%左右的反弹行情或许并非难事。

wangjie：HuZhi 2012 year the probability of the Yin line is low。Since this year，HuZhi open quotation point for 2212 points，As long as closed above the point is positive line，From the current disk look，Gap is still in the point within，But the second half have to look forward to market factors：The first，Count to 6124 words，Fall for almost five years，HuZhi fell more than 4000 points，The cycles of time and the fall degree also allows appearance is quite adequate amount of rebound；The second，According to the stock market economy ahead of 3 to 6 months of law and see，At present the entity economy as soon as see bottom，And the end of the quarter this year saw the probability is bigger。So in the second half of the rising prices probability is very large，About 20% of the rallies might not difficult。

　　从布局角度来看，上涨的初期首选超跌，随着中报的逐渐亮相，并且三季报预告也零星放出，绩优超跌、预期良好的公司在行情拐点到来的初期可能会率先突围；另一方面，前期较为强势的生物医药、食品饮料、保险，地产等个股，现阶段出现回调，但消费拉动经济增长的模式较为明确，业绩和前景具有一定的保证，短调之后，它们的赚钱效应同样值得期待。

From layout perspective，Rise in the early stages of the first super fall，Along with the gradual appearance center daily news，And three quarterly forecast also sporadic release，Optimal super performance fell、Good company in the market expected inflexion point in the early stages of the arrival may lead the breakthrough；On the other hand，The relatively strong biological medicine、Food and beverage、insurance，Real estate stocks such as，Appear at the callback，But consumption mode of economic growth more clearly，Performance and prospects has certain assurance，Short after the，They make money effect is also something to look forward to。

　　沈正阳：从过去二十多年的中国股市看，确实没有出现过年线三连阴的情况，但我们不能以简单的统计而押注于资本市场，事实上，海外成熟市场年线三连阴是有的。从下半年看，尽管判断有一个弱复苏，但经济是否开启新的周期仍需走一步看一步。在投资主线上，一是基于估值修复；二是部分复苏概念股；此外，如果下半年经济确实有回升，那么情绪改善带来超跌反弹也可以关注。 记者 李喆 惠晨晨

ShenZhengYang：From the past 20 years of Chinese stock market look，Do not appear Chinese New Year three even the line Yin，But we can not to simple statistics and bet on capital market，In fact，Mature markets overseas in line three even Yin is there。Since the second half of the look，Although there is a weak recovery judgment，But the economy is on a new cycle still needs to step see step。Investment in line，One is based on valuations repair；2 it is part of the recovery the concept；In addition，If the economy does have picked the second half，So mood improves the rebound also can bring down attention。 Reporter 李喆 HuiChenChen