On Friday, the index fluctuated and callback, with a decline of more than 1%, and the trend is still relatively repeated. The three major indexes rose and fell at the opening, with the Shanghai index and the gem index opening low, and then the indexes fell in shock. In the afternoon, the decline of the index expanded. Finally, the three major indexes closed down, with a decline of more than 1%, and the gem index led the decline of 2.52%. Individual stocks fell more and rose less, while agriculture, forestry, animal husbandry and fishery, textile and clothing, media, comprehensive, real estate and other sectors rose; Power equipment, medicine and biology, food and beverage, communication and automobile sectors fell. In terms of market environment, the Ministry of agriculture and rural areas and the Ministry of finance have made clear the key work of grain production and a package of support policies in 2022, requiring all localities to go all out to ensure a bumper harvest of summer grain and wheat, do everything possible to expand the planting of soybean oil, keep a close eye on the stable price and supply of agricultural materials, stabilize the basic agricultural market, and provide strong support for promoting the stable and healthy development of economy and society. From the technical point of view, the index fluctuated and rested, the Shanghai index stayed at 3200 points temporarily, and the net outflow of funds from the North continued. The volume of the two cities continued to shrink, suppressing market confidence. The short-term market trend was still repeated, waiting for the market to fluctuate and stabilize gradually, paying attention to the capital flow and volume change in the north. In operation, it is suggested to focus on the layout of the middle line, and pay attention to the industries such as finance, food and beverage, real estate, electrical equipment and TMT.