Looking back at the international stock market overnight, the European and American markets showed a callback trend. The continuous rise of crude oil futures came to an abrupt end with the long black last night. At the same time, gold futures also showed a downward trend. It is not difficult to see that the reversal of commodities has once again led to the turmoil in global financial markets. Seeing the domestic market, domestic raw materials reversed sharply last night, and "steel" players both fell sharply. The market of Shanghai Stock Exchange today is not ideal, which is also inextricably linked with it. Why do bulk materials become the main factor affecting the market? The market derived from bulk materials usually represents the quality of the economy and the flow of funds. At present, the rise of the stock index is mainly due to the continuous inflow of hot money, but as far as the current situation is concerned, is hot money fleeing from bulk materials or global financial markets? In my opinion, this is not natural.

Include rebar or iron ore. In the past period of time, the increase was so fierce that the spot quotation also followed the upward trend of futures time series. The sustained and strong rise of bulk materials will inevitably lead to cyclical stocks in the stock market. In the Shanghai Composite Index, most cyclical stocks contain weight indices. Once these stocks rise, it will drive the Shanghai Composite Index to continue to turn positive.

However, the financial market will not only grow red, once the goods rise sharply, it will trigger a callback. Just like the shoeshine boy theory, the continuous storm of commodities in the past week has pulled up the daily limit, making these news more on the headlines of Wall Street finance. When the market is discussing how hot commodities and the stock market are, it means that these commodities are about to show signs of overheating in the short term, so that the reversal and plunge of these commodities have dragged down today's Shanghai A-share market.

Today, there has been a big correction in the index, which is also a big impact on investors. Is the market over? It is also a topic of concern to investors. Since the current changes in the disk are all due to commodity factors, it is necessary to tie the bell. As long as the "steel" duo is stabilized first, there is no need to panic excessively. In the current position structure of iron ore futures, multi-party positions still remain in the lead, and iron ore was also raised by 3 percentage points in the afternoon, which is a good sign. From the linear structure, the 20-day moving average is regarded as the long-short dividing line of the Shanghai Composite Index, but it is still above the 20-day moving average. Although it closed down 1 percentage point today, it is too early to reverse the disk.

Under the effect of hot money, the disk is still dominated by large institutions. Among small and medium-sized enterprises, the main hot money institutions have not yet shown signs of full return. Therefore, in this environment, investors still choose white horse stocks, raw materials plates or cyclical plates as the best policy.