{
  "schemaVersion": 1,
  "createdAt": "2026-10-25T02:10:16.512590+08:00",
  "kind": "accountable_market_judgment",
  "predictionRegistration": {
    "registeredAt": "2026-10-23T17:13:13.959237+08:00",
    "sourceCutoffAt": "2026-10-23T15:00:00+08:00",
    "articleId": "market-a-2026-10-23-701ab6746495",
    "articleTitle": "A股市场解读 2026-10-23",
    "articleHref": "/markets/a-share/2026-10-23.html",
    "status": "linked_to_registered",
    "policy": "method_upgrade_reuses_original_prediction",
    "digest": "c6a47a0530579fd2a78a75a1ab04ea1afb9e2dfd50f3103f8d29aea73c35ea43"
  },
  "analysis": {
    "methodVersion": "market-reader-brief-4.0",
    "parentDigest": "91f4e82c94e3fe2f9cacf2acfa7716fdaa5b3e7714dd4a9bb710bea091cfd104",
    "contextDigest": "cc24a908824226d0926ee2ffc05f4ee44d61a20a9befcafc2e3815c1a61bf3ec",
    "market": "a",
    "tradingDate": "2026-10-23",
    "targetSession": "2026-10-26",
    "state": "rebound",
    "headline": "反弹成立，趋势反转尚未成立",
    "verdict": "反弹修复",
    "label": "修复",
    "thesis": "我的主判断是反弹修复，而非趋势反转。6/6个指数上涨，但只有0/6个站上20日均线；向上空间先看均线与本期高点。 行业层面，26/32个覆盖行业上涨，中位数当日+1.23%；上涨面占主导，强势不只集中在头部。",
    "mainContradiction": {
      "candidateId": "sector-profit-map",
      "dimension": "profit_redistribution",
      "title": "行业相对表现与交易活跃度分化",
      "fact": "26/32个行业上涨；持续领先为电机、自动化设备、工程机械、软件开发、IT服务，成交最活跃的下跌行业是元件（-0.13%、972.37亿元）。",
      "meaning": "结论：工业运输相对科技硬件占优，下一阶段上调工业运输研究优先级、下调科技硬件；这只是市场表现排序，盈利解释需要独立的同期经营证据。",
      "informationGain": {
        "total": 9,
        "maximum": 9,
        "anomaly": 3,
        "decisionImpact": 3,
        "independence": 2,
        "timeQuality": 1,
        "explanation": "异常3/3 + 决策影响3/3 + 独立验证2/2 + 时点质量1/1 = 9/9。"
      },
      "sources": [
        "breadth"
      ]
    },
    "evidenceSelection": {
      "method": "information-gain-selection-1.0",
      "scoreMethod": "信息增量=异常程度(0-3)+决策影响(0-3)+独立验证(0-2)+时点质量(0-1)。分数只用于同一期证据排序，不是概率。",
      "candidateCount": 8,
      "availableDimensionCount": 3,
      "selectedCandidateIds": [
        "sector-profit-map",
        "horizon-alignment",
        "state-coverage",
        "index-participation"
      ]
    },
    "supportingEvidence": [
      {
        "id": "horizon-alignment",
        "dimension": "market_structure",
        "title": "短期方向与中期位置没有同向",
        "observedFact": "6/6个指数上涨，2/6个近5日上涨，0/6个站上20日均线。",
        "baseline": {
          "label": "同一收盘快照的当日、5日与20日均线位置",
          "sampleSize": null,
          "percentile": null,
          "status": "available"
        },
        "meaning": "结论：中期结构仍偏弱，窗口分化先按弱势反弹处理；只有站上20日均线的指数超过半数才改判为转强。",
        "causalRole": "价格路径",
        "relation": "supports",
        "sources": [
          "sh000001",
          "sh000300",
          "sh000905",
          "sh000852",
          "sz399006",
          "sh000688"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "若下一交易日三个窗口重新同向，当前窗口分化就不再成立。",
        "informationGain": {
          "total": 7,
          "maximum": 9,
          "anomaly": 2,
          "decisionImpact": 3,
          "independence": 1,
          "timeQuality": 1,
          "explanation": "异常2/3 + 决策影响3/3 + 独立验证1/2 + 时点质量1/1 = 7/9。"
        },
        "eligibleMainContradiction": true
      },
      {
        "id": "state-coverage",
        "dimension": "market_structure",
        "title": "市场方向覆盖度",
        "observedFact": "6/6个指数上涨，0/6个站上20日均线。",
        "baseline": {
          "label": "本报告覆盖的全部指数",
          "sampleSize": null,
          "percentile": null,
          "status": "available"
        },
        "meaning": "结论：当日上涨覆盖扩大，但趋势位置尚未同步修复。",
        "causalRole": "市场覆盖",
        "relation": "supports",
        "sources": [
          "sh000001",
          "sh000300",
          "sh000905",
          "sh000852",
          "sz399006",
          "sh000688"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "观察指数不是全市场个股；若个股广度方向相反，指数覆盖不能代表普遍行情。",
        "informationGain": {
          "total": 7,
          "maximum": 9,
          "anomaly": 2,
          "decisionImpact": 3,
          "independence": 1,
          "timeQuality": 1,
          "explanation": "异常2/3 + 决策影响3/3 + 独立验证1/2 + 时点质量1/1 = 7/9。"
        },
        "eligibleMainContradiction": false
      }
    ],
    "counterEvidence": {
      "id": "index-participation",
      "dimension": "participation",
      "title": "指数方向与个股参与面相互确认",
      "observedFact": "6/6个指数上涨；4476家上涨、885家下跌、129家平盘，共5490家，上涨家数占包含平盘的全市场81.5%。",
      "baseline": {
        "label": "同一收盘日的指数覆盖与全市场涨跌家数",
        "sampleSize": null,
        "percentile": null,
        "status": "available"
      },
      "meaning": "结论：指数与个股参与面方向一致，但不能据此排除权重股对指数涨跌的贡献。",
      "causalRole": "参与范围",
      "relation": "counters",
      "sources": [
        "breadth",
        "sh000001",
        "sh000300",
        "sh000905",
        "sh000852",
        "sz399006",
        "sh000688"
      ],
      "timeAlignment": {
        "asOf": "2026-10-23",
        "cutoffAt": "2026-10-23T15:00:00+08:00",
        "status": "aligned"
      },
      "counterEvidence": "若下一交易日个股参与面转向，指数与广度的当前关系即失效。",
      "informationGain": {
        "total": 8,
        "maximum": 9,
        "anomaly": 2,
        "decisionImpact": 3,
        "independence": 2,
        "timeQuality": 1,
        "explanation": "异常2/3 + 决策影响3/3 + 独立验证2/2 + 时点质量1/1 = 8/9。"
      },
      "eligibleMainContradiction": true
    },
    "evidenceCandidates": [
      {
        "id": "sector-profit-map",
        "dimension": "profit_redistribution",
        "title": "行业相对表现与交易活跃度分化",
        "observedFact": "26/32个行业上涨；持续领先为电机、自动化设备、工程机械、软件开发、IT服务，成交最活跃的下跌行业是元件（-0.13%、972.37亿元）。",
        "baseline": {
          "label": "同日行业涨跌、5日持续性与成交额",
          "sampleSize": null,
          "percentile": null,
          "status": "available"
        },
        "meaning": "结论：工业运输相对科技硬件占优，下一阶段上调工业运输研究优先级、下调科技硬件；这只是市场表现排序，盈利解释需要独立的同期经营证据。",
        "causalRole": "行业价格表现",
        "relation": "counters",
        "sources": [
          "breadth"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "价格与成交不能证明利润迁移；需核对同报告期的售价、销量、单位成本、利润率与经营现金流。",
        "informationGain": {
          "total": 9,
          "maximum": 9,
          "anomaly": 3,
          "decisionImpact": 3,
          "independence": 2,
          "timeQuality": 1,
          "explanation": "异常3/3 + 决策影响3/3 + 独立验证2/2 + 时点质量1/1 = 9/9。"
        },
        "eligibleMainContradiction": true
      },
      {
        "id": "index-participation",
        "dimension": "participation",
        "title": "指数方向与个股参与面相互确认",
        "observedFact": "6/6个指数上涨；4476家上涨、885家下跌、129家平盘，共5490家，上涨家数占包含平盘的全市场81.5%。",
        "baseline": {
          "label": "同一收盘日的指数覆盖与全市场涨跌家数",
          "sampleSize": null,
          "percentile": null,
          "status": "available"
        },
        "meaning": "结论：指数与个股参与面方向一致，但不能据此排除权重股对指数涨跌的贡献。",
        "causalRole": "参与范围",
        "relation": "counters",
        "sources": [
          "breadth",
          "sh000001",
          "sh000300",
          "sh000905",
          "sh000852",
          "sz399006",
          "sh000688"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "若下一交易日个股参与面转向，指数与广度的当前关系即失效。",
        "informationGain": {
          "total": 8,
          "maximum": 9,
          "anomaly": 2,
          "decisionImpact": 3,
          "independence": 2,
          "timeQuality": 1,
          "explanation": "异常2/3 + 决策影响3/3 + 独立验证2/2 + 时点质量1/1 = 8/9。"
        },
        "eligibleMainContradiction": true
      },
      {
        "id": "horizon-alignment",
        "dimension": "market_structure",
        "title": "短期方向与中期位置没有同向",
        "observedFact": "6/6个指数上涨，2/6个近5日上涨，0/6个站上20日均线。",
        "baseline": {
          "label": "同一收盘快照的当日、5日与20日均线位置",
          "sampleSize": null,
          "percentile": null,
          "status": "available"
        },
        "meaning": "结论：中期结构仍偏弱，窗口分化先按弱势反弹处理；只有站上20日均线的指数超过半数才改判为转强。",
        "causalRole": "价格路径",
        "relation": "supports",
        "sources": [
          "sh000001",
          "sh000300",
          "sh000905",
          "sh000852",
          "sz399006",
          "sh000688"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "若下一交易日三个窗口重新同向，当前窗口分化就不再成立。",
        "informationGain": {
          "total": 7,
          "maximum": 9,
          "anomaly": 2,
          "decisionImpact": 3,
          "independence": 1,
          "timeQuality": 1,
          "explanation": "异常2/3 + 决策影响3/3 + 独立验证1/2 + 时点质量1/1 = 7/9。"
        },
        "eligibleMainContradiction": true
      },
      {
        "id": "state-coverage",
        "dimension": "market_structure",
        "title": "市场方向覆盖度",
        "observedFact": "6/6个指数上涨，0/6个站上20日均线。",
        "baseline": {
          "label": "本报告覆盖的全部指数",
          "sampleSize": null,
          "percentile": null,
          "status": "available"
        },
        "meaning": "结论：当日上涨覆盖扩大，但趋势位置尚未同步修复。",
        "causalRole": "市场覆盖",
        "relation": "supports",
        "sources": [
          "sh000001",
          "sh000300",
          "sh000905",
          "sh000852",
          "sz399006",
          "sh000688"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "观察指数不是全市场个股；若个股广度方向相反，指数覆盖不能代表普遍行情。",
        "informationGain": {
          "total": 7,
          "maximum": 9,
          "anomaly": 2,
          "decisionImpact": 3,
          "independence": 1,
          "timeQuality": 1,
          "explanation": "异常2/3 + 决策影响3/3 + 独立验证1/2 + 时点质量1/1 = 7/9。"
        },
        "eligibleMainContradiction": false
      },
      {
        "id": "price-boundary",
        "dimension": "market_structure",
        "title": "收盘位置给出明确改判边界",
        "observedFact": "沪深300收于4105.33，20日均线4295.86，本期低点3958.14；收盘位于日内区间99%。",
        "baseline": {
          "label": "本期低点、20日均线与本期高点",
          "sampleSize": null,
          "percentile": null,
          "status": "available"
        },
        "meaning": "结论：反弹已经发生，但站稳均线前不升级为趋势反转。",
        "causalRole": "价格确认",
        "relation": "supports",
        "sources": [
          "sh000300"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "沪深300收盘若突破4295.86或跌破3958.14，当前边界解释需要重算。",
        "informationGain": {
          "total": 6,
          "maximum": 9,
          "anomaly": 2,
          "decisionImpact": 2,
          "independence": 1,
          "timeQuality": 1,
          "explanation": "异常2/3 + 决策影响2/3 + 独立验证1/2 + 时点质量1/1 = 6/9。"
        },
        "eligibleMainContradiction": false
      },
      {
        "id": "style-persistence",
        "dimension": "market_structure",
        "title": "风格领先能否跨窗口成立",
        "observedFact": "中证1000相对沪深300当日+0.67个百分点、近20日-2.83个百分点。",
        "baseline": {
          "label": "当日相对收益与20日相对收益交叉核对",
          "sampleSize": null,
          "percentile": null,
          "status": "available"
        },
        "meaning": "结论：两个窗口方向相反，单日轮动还不能升级为持续主线。",
        "causalRole": "风格持续性",
        "relation": "supports",
        "sources": [
          "sh000852",
          "sh000300"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "若下一交易日相对收益反向，当前风格持续性判断降级。",
        "informationGain": {
          "total": 6,
          "maximum": 9,
          "anomaly": 2,
          "decisionImpact": 2,
          "independence": 1,
          "timeQuality": 1,
          "explanation": "异常2/3 + 决策影响2/3 + 独立验证1/2 + 时点质量1/1 = 6/9。"
        },
        "eligibleMainContradiction": true
      },
      {
        "id": "price-implied-pricing",
        "dimension": "market_pricing_degree",
        "title": "价格路径的短样本异常程度",
        "observedFact": "沪深300近5日-1.57%、近20日-7.96%；5日变化处于短样本第81分位。",
        "baseline": {
          "label": "仅基于价格的短样本代理，不等同于市场一致预期",
          "sampleSize": 16,
          "percentile": 81,
          "status": "partial"
        },
        "meaning": "结论：短线上涨已过热，降低追涨优先级；盈利、流动性或风险偏好出现新增证据前，不上调强势判断。",
        "causalRole": "预期计入",
        "relation": "counters",
        "sources": [
          "sh000300"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "没有盈利一致预期、估值和仓位数据，不能据此声称市场已经充分定价。",
        "informationGain": {
          "total": 5,
          "maximum": 9,
          "anomaly": 1,
          "decisionImpact": 2,
          "independence": 1,
          "timeQuality": 1,
          "explanation": "异常1/3 + 决策影响2/3 + 独立验证1/2 + 时点质量1/1 = 5/9。"
        },
        "eligibleMainContradiction": false
      },
      {
        "id": "historical-five-day",
        "dimension": "historical_percentile",
        "title": "5日变化放回短历史分位",
        "observedFact": "沪深300近5日-1.57%，在本快照可复算的16个5日窗口中处于第81分位。",
        "baseline": {
          "label": "同一快照内16个5日滚动窗口",
          "sampleSize": 16,
          "percentile": 81,
          "status": "available"
        },
        "meaning": "结论：当前涨跌不极端，短历史分位不支持追涨或抄底，方向仍由趋势结构决定。",
        "causalRole": "历史异常",
        "relation": "counters",
        "sources": [
          "sh000300"
        ],
        "timeAlignment": {
          "asOf": "2026-10-23",
          "cutoffAt": "2026-10-23T15:00:00+08:00",
          "status": "aligned"
        },
        "counterEvidence": "快照只有21个交易日；更长历史可能改变这一分位，当前结果只作短期异常度。",
        "informationGain": {
          "total": 4,
          "maximum": 9,
          "anomaly": 1,
          "decisionImpact": 1,
          "independence": 1,
          "timeQuality": 1,
          "explanation": "异常1/3 + 决策影响1/3 + 独立验证1/2 + 时点质量1/1 = 4/9。"
        },
        "eligibleMainContradiction": false
      }
    ],
    "contextEvidenceCandidates": [],
    "dimensionCoverage": [
      {
        "dimension": "historical_percentile",
        "label": "历史分位与异常程度",
        "status": "available",
        "reason": "使用同一指数快照内可复算的5日滚动收益，样本较短并明确披露。",
        "sampleSize": 16
      },
      {
        "dimension": "earnings_revision",
        "label": "盈利预测修正",
        "status": "unavailable",
        "reason": "当前快照没有市场一致盈利预测及其上调、下调记录。"
      },
      {
        "dimension": "valuation_risk_premium",
        "label": "估值与风险溢价",
        "status": "unavailable",
        "reason": "缺少时点一致的指数估值、盈利收益率与无风险利率组合。"
      },
      {
        "dimension": "positioning_derivatives",
        "label": "仓位、拥挤度和衍生品定价",
        "status": "unavailable",
        "reason": "当前快照没有基金仓位、融资拥挤度、期权偏度或期货基差。"
      },
      {
        "dimension": "cross_asset_validation",
        "label": "跨资产验证",
        "status": "unavailable",
        "reason": "本期没有两期可比较的利率、汇率或商品观测。"
      },
      {
        "dimension": "profit_redistribution",
        "label": "产业链利润重新分配",
        "status": "partial",
        "reason": "行业价格和成交只确认相对表现；利润迁移缺少同报告期的量价成本、利润率与现金流证据。"
      },
      {
        "dimension": "market_pricing_degree",
        "label": "市场已定价程度",
        "status": "partial",
        "reason": "只有价格路径分位，缺少一致预期和估值变化，不能完整衡量已定价程度。",
        "sampleSize": 16
      }
    ],
    "evidence": [
      {
        "title": "中期位置决定主判断",
        "fact": "0/6个指数高于20日均线；近5日上涨的有2/6个。沪深300近20日-7.96%。",
        "meaning": "一日涨跌只改变反弹力度，持续站回均线才能改变趋势判断。",
        "role": "主证据",
        "sources": [
          "sh000001",
          "sh000300",
          "sh000905",
          "sh000852",
          "sz399006",
          "sh000688"
        ]
      },
      {
        "title": "谁在领先：一天与一个月要交叉核对",
        "fact": "中证1000相对沪深300：当日+0.67个百分点，近20日-2.83个百分点。",
        "meaning": "当天领先、20日仍落后，属于相对强弱的短线修复，尚非持续领先。",
        "role": "风格证据",
        "sources": [
          "sh000852",
          "sh000300"
        ]
      },
      {
        "title": "收盘承接能否确认趋势",
        "fact": "上证指数收于3690.48，位于日内区间的99%位置；距20日均线-2.98%。",
        "meaning": "收近高点，说明盘中低位承接较强；但均线尚未收复，因此提高反弹评价，不上调为趋势反转。",
        "role": "收盘证据",
        "sources": [
          "sh000001"
        ]
      },
      {
        "title": "个股参与面",
        "fact": "4476家上涨、885家下跌、129家持平；下跌占16.1%。",
        "meaning": "上涨家数超过半数，修复并非只体现在少数指数。",
        "role": "参与证据",
        "sources": [
          "breadth"
        ]
      }
    ],
    "alternative": {
      "title": "更乐观的解释：新上升趋势已确认",
      "text": "反对理由：上涨的有6个，站上20日均线的只有0个。日内反弹证据已经出现，中期确认仍落后。"
    },
    "macro": [],
    "industry": [
      {
        "title": "电机：日与周同向，市场正在交易持续改善预期",
        "fact": "当日+5.30%、近5日+13.16%、近30日-0.77%，成交额129.51亿元。",
        "meaning": "终端景气与竞争格局 → 量价组合 → 单位利润 → 经营现金流。先确认行业的销量、价格和竞争格局，再核对单位利润、库存、应收与资本开支。行业涨跌只代表预期变化，不能替代经营数据。",
        "role": "行业经营",
        "sources": [
          "breadth"
        ]
      },
      {
        "title": "自动化设备：日与周同向，市场正在交易持续改善预期",
        "fact": "当日+5.08%、近5日+7.80%、近30日-6.63%，成交额506.01亿元。",
        "meaning": "客户资本开支 → 在手订单 → 交付与产能利用率 → 回款。装备行业应从客户资本开支追到在手订单、交付和回款。收入确认快于现金回收，或订单增长但产能利用率不升，都要下调质量判断。",
        "role": "行业经营",
        "sources": [
          "breadth"
        ]
      },
      {
        "title": "银行：日与周同时承压，行业预期仍在下调",
        "fact": "当日-0.54%、近5日-1.58%、近30日-1.34%，成交额461.88亿元。",
        "meaning": "利率与市场活跃度 → 利差或手续费 → 信用和投资损益 → 净利润。金融行业必须拆开利差、手续费、信用成本和投资收益。成交放大或利率变化只影响部分收入，不能直接推出净利润同向变化。",
        "role": "行业经营",
        "sources": [
          "breadth"
        ]
      }
    ],
    "industryStructure": {
      "covered": 32,
      "advancing": 26,
      "declining": 6,
      "advanceSharePct": 81.2,
      "median1dPct": 1.23,
      "median5dPct": -1.02,
      "turnoverCoverageYi": 10980.57,
      "positiveTurnoverSharePct": 82.2,
      "topFiveTurnoverSharePct": 57.1,
      "leader": "电机",
      "leaderFamily": "工业运输",
      "laggard": "银行",
      "pressureCenter": "元件",
      "pressureTurnoverYi": 972.37,
      "pressureReturn1dPct": -0.13,
      "pressureFamily": "科技硬件",
      "persistentLeaders": [
        "电机",
        "自动化设备",
        "工程机械",
        "软件开发",
        "IT服务"
      ],
      "regime": "上涨面占主导，强势不只集中在头部",
      "thesis": "上涨面占主导，强势不只集中在头部。26/32个行业上涨，中位数当日+1.23%、近5日-1.02%；持续领先集中在电机、自动化设备、工程机械。成交最活跃的下跌行业是元件（-0.13%、972.37亿元），它比单纯的涨跌榜更能说明当前压力落在哪里。"
    },
    "opportunities": [
      {
        "title": "先看轮动能否变成持续领先",
        "text": "中证1000与沪深300的单日、20日强弱未形成一致结论。本期不选定持续主线，保留两者对照。",
        "condition": "沪深300收复4295.86后，再把整体修复的优先级上调。"
      },
      {
        "title": "电机：持续领先",
        "text": "当日+5.30%、近5日+13.16%、近30日-0.77%。日与周方向一致，优先级高于只涨一天的行业。 终端景气与竞争格局 → 量价组合 → 单位利润 → 经营现金流。先确认行业的销量、价格和竞争格局，再核对单位利润、库存、应收与资本开支。行业涨跌只代表预期变化，不能替代经营数据。",
        "condition": "下一交易日行业收益高于沪深300，才保留相对领先评价。"
      },
      {
        "title": "自动化设备：持续领先",
        "text": "当日+5.08%、近5日+7.80%、近30日-6.63%。日与周方向一致，优先级高于只涨一天的行业。 客户资本开支 → 在手订单 → 交付与产能利用率 → 回款。装备行业应从客户资本开支追到在手订单、交付和回款。收入确认快于现金回收，或订单增长但产能利用率不升，都要下调质量判断。",
        "condition": "下一交易日行业收益高于沪深300，才保留相对领先评价。"
      }
    ],
    "risks": [
      {
        "title": "承接失效",
        "text": "上证指数收盘跌破3574.27，本期低点被击穿，下调当前判断。"
      },
      {
        "title": "轮动误判",
        "text": "中证1000相对沪深300单日+0.67个百分点，但20日差值为-2.83个百分点。两个窗口方向不同，把单日赢家当成持续主线是本期主要风险。"
      }
    ],
    "scenarios": [
      {
        "label": "主判断",
        "title": "反弹修复",
        "text": "上证指数收盘仍在3574.27与3803.88之间，维持本期判断。"
      },
      {
        "label": "上调判断",
        "title": "价格突破 + 趋势扩散",
        "text": "上证指数收盘高于3803.88，且观察指数中超过半数站上20日均线，上调为更广泛的趋势修复。"
      },
      {
        "label": "下调判断",
        "title": "收盘跌破本期低点",
        "text": "上证指数收盘低于3574.27，承接失效，按下行风险扩大处理。"
      }
    ],
    "predictions": [
      {
        "market": "a",
        "horizonSessions": 20,
        "indicatorId": "sh000001",
        "indicator": "上证指数收盘",
        "direction": "<",
        "threshold": 3690.48,
        "unit": "点",
        "dueSession": "2026-11-20",
        "dueAt": "2026-11-20T15:00:00+08:00",
        "confidence": 0.6,
        "invalidation": "2026-11-20收盘若不低于3690.48点，原判断失效。",
        "rationale": "当日、近5日与20日均线位置的加权方向分为-0.37；当前状态为反弹修复。",
        "statement": "20个交易日后（2026-11-20），上证指数预计低于3690.48点。",
        "id": "pred-market-0fc0f590ae06a429e16a"
      }
    ],
    "sources": [
      {
        "id": "sh000001",
        "name": "上证指数日线",
        "url": "https://web.ifzq.gtimg.cn/appstock/app/fqkline/get?param=sh000001,day,,,300,qfq"
      },
      {
        "id": "sh000300",
        "name": "沪深300日线",
        "url": "https://web.ifzq.gtimg.cn/appstock/app/fqkline/get?param=sh000300,day,,,300,qfq"
      },
      {
        "id": "sh000905",
        "name": "中证500日线",
        "url": "https://web.ifzq.gtimg.cn/appstock/app/fqkline/get?param=sh000905,day,,,300,qfq"
      },
      {
        "id": "sh000852",
        "name": "中证1000日线",
        "url": "https://web.ifzq.gtimg.cn/appstock/app/fqkline/get?param=sh000852,day,,,300,qfq"
      },
      {
        "id": "sz399006",
        "name": "创业板指日线",
        "url": "https://web.ifzq.gtimg.cn/appstock/app/fqkline/get?param=sz399006,day,,,300,qfq"
      },
      {
        "id": "sh000688",
        "name": "科创50日线",
        "url": "https://web.ifzq.gtimg.cn/appstock/app/fqkline/get?param=sh000688,day,,,300,qfq"
      },
      {
        "id": "breadth",
        "name": "同花顺每日行情复盘",
        "url": "https://news.10jqka.com.cn/20261023/c681020629.shtml"
      }
    ],
    "sectors": [
      {
        "name": "电机",
        "return1dPct": 5.3,
        "turnoverYi": 129.51,
        "return5dPct": 13.16,
        "return30dPct": -0.77
      },
      {
        "name": "自动化设备",
        "return1dPct": 5.08,
        "turnoverYi": 506.01,
        "return5dPct": 7.8,
        "return30dPct": -6.63
      },
      {
        "name": "软件开发",
        "return1dPct": 4.88,
        "turnoverYi": 589.43,
        "return5dPct": 5.47,
        "return30dPct": -0.36
      },
      {
        "name": "影视院线",
        "return1dPct": 4.11,
        "turnoverYi": 111.63,
        "return5dPct": -0.78,
        "return30dPct": 8.33
      },
      {
        "name": "IT服务",
        "return1dPct": 3.95,
        "turnoverYi": 458.3,
        "return5dPct": 5.32,
        "return30dPct": -3.86
      },
      {
        "name": "半导体",
        "return1dPct": 3.65,
        "turnoverYi": 2605.47,
        "return5dPct": 2.95,
        "return30dPct": -14.17
      },
      {
        "name": "电池",
        "return1dPct": 3.62,
        "turnoverYi": 698.53,
        "return5dPct": -2.64,
        "return30dPct": -9.89
      },
      {
        "name": "游戏",
        "return1dPct": 3.61,
        "turnoverYi": 107.07,
        "return5dPct": -0.16,
        "return30dPct": -4.78
      },
      {
        "name": "工程机械",
        "return1dPct": 3.53,
        "turnoverYi": 100.95,
        "return5dPct": 5.94,
        "return30dPct": -4.6
      },
      {
        "name": "黑色家电",
        "return1dPct": 3.22,
        "turnoverYi": 21.24,
        "return5dPct": 4.11,
        "return30dPct": -4.52
      },
      {
        "name": "银行",
        "return1dPct": -0.54,
        "turnoverYi": 461.88,
        "return5dPct": -1.58,
        "return30dPct": -1.34
      },
      {
        "name": "电力",
        "return1dPct": -0.38,
        "turnoverYi": 318.8,
        "return5dPct": -3.27,
        "return30dPct": -6.09
      },
      {
        "name": "元件",
        "return1dPct": -0.13,
        "turnoverYi": 972.37,
        "return5dPct": -3.82,
        "return30dPct": -3.13
      },
      {
        "name": "石油加工贸易",
        "return1dPct": -0.1,
        "turnoverYi": 86.9,
        "return5dPct": -1.43,
        "return30dPct": -7.23
      },
      {
        "name": "种植业与林业",
        "return1dPct": -0.08,
        "turnoverYi": 66.39,
        "return5dPct": -6.63,
        "return30dPct": -13.14
      },
      {
        "name": "公路铁路运输",
        "return1dPct": -0.05,
        "turnoverYi": 46.38,
        "return5dPct": -2.62,
        "return30dPct": -2.01
      },
      {
        "name": "燃气",
        "return1dPct": 0.02,
        "turnoverYi": 26.37,
        "return5dPct": -4.9,
        "return30dPct": -8.96
      },
      {
        "name": "钢铁",
        "return1dPct": 0.08,
        "turnoverYi": 75.68,
        "return5dPct": -2.61,
        "return30dPct": -8.21
      },
      {
        "name": "服装家纺",
        "return1dPct": 0.13,
        "turnoverYi": 74.08,
        "return5dPct": -3.28,
        "return30dPct": -8.81
      },
      {
        "name": "建筑材料",
        "return1dPct": 0.13,
        "turnoverYi": 213.36,
        "return5dPct": -1.05,
        "return30dPct": -5.14
      },
      {
        "name": "通信设备",
        "return1dPct": 1.11,
        "turnoverYi": 1350.0,
        "return5dPct": 1.13,
        "return30dPct": -12.91
      },
      {
        "name": "通用设备",
        "return1dPct": 3.1,
        "turnoverYi": 647.72,
        "return5dPct": 3.43,
        "return30dPct": -8.19
      },
      {
        "name": "汽车零部件",
        "return1dPct": 2.81,
        "turnoverYi": 588.02,
        "return5dPct": 2.67,
        "return30dPct": -7.25
      },
      {
        "name": "消费电子",
        "return1dPct": 3.13,
        "turnoverYi": 530.83,
        "return5dPct": 3.87,
        "return30dPct": -12.57
      },
      {
        "name": "贸易",
        "return1dPct": 0.4,
        "turnoverYi": 12.54,
        "return5dPct": -2.55,
        "return30dPct": -7.51
      },
      {
        "name": "厨卫电器",
        "return1dPct": 1.34,
        "turnoverYi": 15.27,
        "return5dPct": 1.72,
        "return30dPct": -3.09
      },
      {
        "name": "造纸",
        "return1dPct": 0.85,
        "turnoverYi": 22.49,
        "return5dPct": -2.61,
        "return30dPct": -7.86
      },
      {
        "name": "教育",
        "return1dPct": 0.68,
        "turnoverYi": 23.4,
        "return5dPct": -6.34,
        "return30dPct": -10.84
      },
      {
        "name": "橡胶制品",
        "return1dPct": 1.44,
        "turnoverYi": 23.66,
        "return5dPct": -0.71,
        "return30dPct": -8.59
      },
      {
        "name": "机场航运",
        "return1dPct": 1.01,
        "turnoverYi": 28.9,
        "return5dPct": -2.42,
        "return30dPct": -5.8
      },
      {
        "name": "旅游及酒店",
        "return1dPct": 0.95,
        "turnoverYi": 33.16,
        "return5dPct": -2.7,
        "return30dPct": -12.87
      },
      {
        "name": "纺织制造",
        "return1dPct": 1.75,
        "turnoverYi": 34.23,
        "return5dPct": -0.99,
        "return30dPct": -4.88
      }
    ],
    "counts": {
      "up": 6,
      "down": 0,
      "aboveMa20": 0,
      "belowMa20": 6,
      "total": 6,
      "weeklyUp": 2
    },
    "levels": {
      "name": "上证指数",
      "support": 3574.27,
      "close": 3690.48,
      "ma20": 3803.8835,
      "confirmation": 3803.8835,
      "toConfirmationPct": 3.072865860267493,
      "toSupportPct": -3.1489128785415432
    },
    "dataGaps": [
      "本期缺少全市场成交额，不对这些维度作归因。",
      "交易所未来日历尚未覆盖60个交易日，当前只登记可精确核对的20日预测。",
      "盈利预测修正：当前快照没有市场一致盈利预测及其上调、下调记录。",
      "估值与风险溢价：缺少时点一致的指数估值、盈利收益率与无风险利率组合。",
      "仓位、拥挤度和衍生品定价：当前快照没有基金仓位、融资拥挤度、期权偏度或期货基差。",
      "跨资产验证：本期没有两期可比较的利率、汇率或商品观测。"
    ],
    "productionSelectionUnchanged": true,
    "briefDigest": "cdba4abd61c1a59e79f298089df074996d7cf5240490acbff603562fef473413"
  }
}