Citic sec's research report pointed out that the current market's pricing block orders are in the process of transitioning from individual investors to institutional investors. Institutional attention still needs to be paid to signals of housing prices and social finance, as investors' sentiment is relatively fragile, amplifying volatility under external disturbances. Currently in a policy lull period, policy expectations are in chaos, but the direction and objectives of domestic policies are clear, and consensus is expected to be reached again in December; the market is standing at the starting line of an annual-level marathon rally, waiting for the starting gun of housing prices and social finance. In terms of allocation, in the short term, one can continue to transition with some undervalued pro-cyclical varieties, actively increasing allocation to high-performance growth and domestic consumer sectors after signals are clarified.