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NEARING A LOW接近低点
WAIT等待 A normal mid-cycle dip below the 10-day average — the real cycle low isn't due for ~9+ trading days. Wait for support to hold, or for the next low to set up.这是跌破 10 日均线的正常周期中段回调——真正的周期低点要到约 9+ 个交易日后才会到来。等待支撑站稳，或等下一个低点构筑成形。

⏱ NEARING A LOW signal just triggered today (fresh cross from UPTREND). Signal strength: faint (score +0/100).⏱ 接近低点信号于今日刚刚触发（全新交叉，自上涨趋势翻转）。 信号强度：微弱（评分 +0/100）。

📅 Daily cycle: day 14 of a typical 23–44 trading days日线周期：第 14 天，典型周期为 23–44 个交易日 — mid-cycle — trending周期中段——趋势运行中
🗓 Weekly (investor) cycle: week 39 of a typical 13–25 weeks周线（投资者）周期：第 39 周，典型周期为 13–25 周 — overdue — the bigger cycle is stretched, expect more volatility逾期——更大的周期已被拉伸，预计波动加剧
The last cycle peaked in its FIRST half ('left-translated') — weak cycles top early, so this hints the bigger trend is tiring.上一周期在前半段见顶（“左移”）——弱周期见顶偏早，这暗示更大的趋势正在走弱。
full reasoning完整推理

Mixed structure. Last cycle was left-translated (topped early) — a bearish structural tell.结构混合。 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： Watch the 10-day average and cycle-day count.关注 10 日均线与周期天数。

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。

Galaxy Entertainment 0027.HK UPTREND上涨趋势 HOLD持有 ⏱ 1d ago1天前 daily cycle day日线周期第 14/~44 天
Sands China 1928.HK NEARING A LOW接近低点 WAIT等待 ⏱ today今日 daily cycle day日线周期第 14/~44 天
SJM Holdings 0880.HK UPTREND上涨趋势 HOLD持有 ⏱ 1d ago1天前 daily cycle day日线周期第 14/~44 天
MGM China 2282.HK NEARING A LOW接近低点 WAIT等待 ⏱ today今日 daily cycle day日线周期第 11/~44 天