Huatai Securities released a research report indicating that the A-share market saw a broad-based recovery last week, with key indices rebounding notably. The technology and growth sectors spearheaded the gains, propelled by factors such as first-quarter earnings results, reforms in the ChiNext board, and the easing of U.S.-Iran tensions. Looking forward, the market may encounter short-term volatility: on one hand, the two-week ceasefire window concludes next week, and the confirmation hearing for the Federal Reserve Chair nominee, Warsh, is scheduled, which could temporarily dampen global risk sentiment; on the other hand, the valuation dispersion coefficient of A-shares is at a historic peak, heightening the pressure to cash in profits from overbought positions, potentially leading to a temporary shift in market styles. Regarding portfolio allocation, it is prudent to manage position sizes and rotate within sectors showing strong growth potential. While the industrial trend in the computing power chain remains robust, there is short-term pressure to take profits. Therefore, it is recommended to prioritize sectors with lower levels of overcrowding, such as new energy and export chains.