The medium-term trend takes a three-month cycle. Since listing, there have been five market trends, three downward trends and two upward trends, and the V-shaped reversal market trend is very obvious. 2。 The drastic changes in the positions of important members with brokerage background are all turning points in the market. Futures companies with brokerage background and their parent companies mainly enjoy research resources, and have a better overall grasp of the stock spot market than futures companies without brokerage. Observing the changes of their positions is an important way to grasp the medium-term trend. 3。 The medium-term market changes of stock index futures are all based on the changes of macroeconomic policies, especially the changes of monetary policies, market liquidity policies and investors' expectations, which are relatively short-term trends and easy to grasp. 4。 Since the listing of stock index futures, it has not shown an obvious long-term trend. From the perspective of monthly and annual lines, it is mainly small fluctuations, and it is difficult for long-term investors to make profits. Based on the above characteristics of stock index futures, it is suggested that speculators in Shanghai and Shenzhen 300 stock index futures markets should mainly trade in the medium-term trend, and the trading strategy for the medium-term trend can be summarized as: 1. Understand the market: fully absorb and digest market information, establish a multi-channel information network, understand the domestic and international economic situation from multiple angles, especially the main direction of domestic medium-term economic development and central bank policies, highlight the main contradictions, ignore the secondary contradictions, and understand the medium-term trend from a systematic point of view. 2。 Trend judgment: Taking the position change of the main members of stock index futures as a turning point, the fluctuation of more than 30% in a single day will be a turning point with high probability. At the same time, combining the technical analysis indicators and the above understanding of the market, it is judged that the medium-term trend is about to change. 3。 Grasp the time: the fluctuation cycle of stock index futures since listing is basically about 3 months, and there is no big trend, mainly because there is no systematic problem in China's economy. Therefore, in the absence of systematic changes in the future economy, three months will be the time period for the medium-term trend to change, and speculators in the medium-term trend need to pay close attention. 4。 Fund management: In the process of the medium-term trend, speculators should always do a good job in fund management and risk control, focus on low positions and low margin transactions, reduce leverage, guard against risks, and hold firmly when the medium-term trend remains unchanged. Future domestic and global economic systemic problems include: 1. Whether China's real estate regulation has achieved tangible results, and whether the expectations of urban and rural residents for rising house prices have been controlled. 2。 Whether the inflation situation and expectations have improved significantly is mainly a question left over from history. 3 "Twelfth Five Year Plan" two years before the start, whether the economic restructuring has been carried out in depth, whether it has fallen into the key link of economic development. 4。 Whether the US debt problem and the US economic development have improved. In Victor Spadi's Principles of Professional Speculation, it is written that "speculators pay attention to the medium-term trend, and they establish market positions and hold them for about several weeks to several months". In the process of medium-term trend, speculators can basically achieve the goal of obtaining excess returns as long as they grasp three principles, namely, ensuring the safety of principal, using a set of established basic ideas and knowledge to obtain high probability returns and maintaining the stability of returns. At the same time, from the perspective of system and overall situation, we will get better benefits. Related reading Changjiang Futures Pengbo-Boyi Master Lightning Hand _ Changjiang Futures Stock Index Futures Market Software _ Changjiang Futures Stock Index Futures Market Analysis Software Download Changjiang Futures Jin Changjiang Stock Index Futures Trading System (Turbo Edition) _ Changjiang Futures Stock Index Futures Market Analysis Software Download Stock Index Futures IB What does it mean? Overview of stock index futures market. From the evaluation of panel data, we realize the influence of futures index on stock market fluctuation. Futures refers to butterfly arbitrage programmed trading to realize the steady rise of real estate heavyweights. CICC suggested providing new loans for leading real estate enterprises, but the expected futures index lacked direction in the early market. This article only represents the author's point of view and has nothing to do with Jintou Futures Network. The website of Jintou Futures is neutral to the statements and opinions in this article, and does not provide any express or implied guarantee for the accuracy, reliability or completeness of the contents. Please take full responsibility for readers' reference only.