The second quarter of each year is the intensive period of A-share annual reports. A shares often have a wave of annual reports, but there is no annual report this year. The A-share market as a whole shows an overall downward trend. The annual report of individual stocks performed well, but the share price fell by more than 50%. The main reason is that most investors are not optimistic about China's economy, and the impact of external conflicts and the Fed's interest rate hike is superimposed. Combined with the trend of the index in recent days, the author thinks that the trend characteristics of A shares in the next stage:

First, stocks with high annual growth are expected to take the lead in stabilizing and rebounding. For stocks that have been fully adjusted in the early stage, there is hope that there will be a relatively large rebound under the favorable stimulus of the great growth of the annual report. For example, the recently launched logistics sector has been fully adjusted in the early stage, and the recent annual report or quarterly report shows high growth, and the rebound is about to begin.

Second, stocks with poor performance will be adjusted for a long time and consolidated at the bottom. For stocks with poor performance and insufficient adjustment at present, they will go down the channel and consolidate at the bottom for a long time. Never touch such stocks, it is extremely risky.

Third, the transformation of hotspots will be accelerated, and the persistence of hotspots will not be strong: due to the overall weakness of the market and the influence of external factors, the domestic economy has not formed an effective point because of the poor expectation of the epidemic, and the overall trend is weak.

At present, the main line of the market is infrastructure and agricultural planting: this year will be a big year for infrastructure. At present, it is promising for the infrastructure sector to get out of a wave of market. At present, some stocks have started to start, but it is not clear how high they can go, but this hot spot is still relatively clear. Another obvious hot spot is agricultural planting. International food prices are high, and domestic grain and oil prices will certainly follow. Agricultural planting, including seed industry, has the potential to become a new way out.

To sum up, the current A-share market as a whole is weak and its operability is not strong.