1, the bull-bear line is the 250-day moving average. If the 250-day moving average turns from a continuous upward trend to a downward trend, it means that the bull market is turning into a bear market. Similarly, when the 250-day moving average turns from continuous downward to upward, the market turns from bear market to bull market.

2. Without considering the influence of the volume factor, the value of the annual line is the average transaction cost of 250 days. When analyzing the long-term trend, the annual line and semi-annual line are valued by market researchers, and the annual line is called the dividing line between bull and bear in the long-term trend of the market. At present, the annual line is around 4400.

3. As far as the current market is concerned, the stock index has continued to plummet recently, constantly testing the support of the annual line. However, because the fundamentals have not been fundamentally reversed, the momentum of corporate performance growth and RMB appreciation has not changed, which determines that the long-term bullish trend of the market will continue. Therefore, at this time, the decline of the stock index is the coming of opportunity, that is, when the more you buy, the market may rebound strongly at any time.