⏱ DOWNTREND signal just triggered today (fresh cross from NEARING A LOW). Signal strength: strong (score -90/100).⏱ 下跌趋势信号于今日刚刚触发（全新交叉，自接近低点翻转）。 信号强度：强（评分 -90/100）。

full reasoning完整推理

Failed cycle — price broke below the low that started this cycle, which historically means the larger trend is rolling over (~80% of cases). Last cycle was left-translated (topped early) — a bearish structural tell.失败周期——价格跌破了启动本周期的低点，历史上这通常意味着更大的趋势正在掉头向下（约 80% 的情形）。 上一周期为左移结构（见顶偏早）——属于看空的结构性信号。 Next:下一步： Stand aside until a new daily cycle low forms and confirms.观望，直至新的日线周期低点形成并确认。

Momentum across timeframes跨周期动量

Chart — sector basket图表 — 板块篮子

Equal-weight basket index (rebased) · 50/200-day moving averages · drawn from our stored EOD prices (the free TradingView widget gates HKEX data behind a login)等权篮子指数（再基准化）· 50/200 日均线 · 由我方存储的日线数据绘制（免费版 TradingView 组件需登录才能查看港股数据）

Key constituents — each on its own cycle主要成分股 — 各自的周期 ?Representative large-caps in this sector — this sector's curated large-caps (not a float-cap index). Each gets the same cycle/ladder treatment. Click a name for the full single-stock analysis.本板块中具代表性的大盘股 — 本板块精选的大盘股（并非按自由流通市值编制的指数）。每只都享有相同的周期／阶梯分析。点击名称查看完整个股分析。