The market sentiment cycle can be roughly divided into:

- Startup period: After a period of decline, the market no longer has the situation of ceiling and floor, yesterday's limit up and today's limit down. The number of stocks that have exploded has decreased significantly, and long legs have begun to appear.

If a certain stock begins to break the space suppression and hits a recent high against the trend, and the trend of individual stocks in the sector is obviously stronger than the market, it has a strong sector effect, and the quality and capacity of the theme are quite imaginative. This is likely to be the beginning of a new round of theme speculation, and the leader is the leader.

- Fermentation period: It appears after the start-up period. With the further development of space, the sector's money-making effect appears, and the number of consecutive board stocks begins to increase.

This stage is the most critical stage for the leading players to show their skills and take positions.

In the early stage of the fermentation period, the focus is on the theme (attribute) direction. It is necessary to focus on the leader of the most mainstream hot spot in the market. If you can't make a one-word dragon, you can go to the same position of the turnover ticket at the first time in the start-up period, and then consider the second dragon;

In the middle and late stages of the fermentation period, you can consider making up for the first or second board tickets of the mainstream sector that started from a low position.

- Divergence period: The theme begins to differentiate in an elimination-style manner, with a certain loss effect, but strong stocks still continue to strengthen with some divergence and then consistency. The divergence in the front row is consistent or continues to be consistent, and the divergence in the back row may be eliminated.

- Climax period: The theme sector performs at a climax, showing a general rise, the leading stocks are accelerating with shrinking volume, and the miscellaneous stocks are also rushing up without thinking. The front row is too accelerated and consistent, and the back row follows the trend and makes up for the rise.

- Strong divergence period: High-priced stocks begin to cash out, large-volume stocks increase, and the loss effect is obvious. The leading stocks may continue to go up or go sideways with explosive volume divergence, but the sector obviously begins to fail to keep up, the sector effect is weak, and some sectors have been continuously large-volume.

- Recession period: The strong stocks in the market are basically in a sell-off trend, with an obvious loss effect, and it is easy to lose face if you make a move. Consistent sell-off.

- Freezing point period: After the continuous sell-off has reduced the bullish sentiment to the freezing point, the market will have a small repair, some oversold strong stocks will rebound, and new themes at low levels will try and make mistakes, but the overall decline is still relatively strong, and the bullish sentiment is poor.

- Chaotic period: There is no main line in the market. There is trial and error by funds in some directions, but the intensity of trial and error is weak and the willingness to go long is not obvious.Most of the bullish forces are on the sidelines, confused about the direction.