Open Securities: Lowering Slope Expectations, Technology Still the Main Theme

The open source securities research report states that the market cannot rely solely on valuation and sentiment to move forward. In the mid-term, the focus of allocation should not be on simple pro-cyclical recovery, nor should it mechanically return to the most crowded technology sector before. Instead, it should seek the intersection of "second ignition + narrative tension". Specifically, technology remains the mainline with the highest combination of "second ignition + narrative tension" at present; outside of technology, the non-ferrous metal and chemical industries are also worth paying attention to in the short term, especially against the backdrop of a temporary easing between the US and Iran, the suppression faced by the non-ferrous metal and chemical industries in the earlier period will be relieved and there may be a more obvious recovery trend in the future.