Today, 29 july 2026, many wage earners, middle-aged friends, more or less in the hands of medical-related hold-ups, and many people are panicking about the recent sharp rise in innovative tablets: whether the bottom has just started or the main pull is going to run
Most of the diasporas lost money, not because they could never read the financial statements, but because they could not distinguish between the four stages of a full cycle. Many people left the scene in a state of panic when the bottom of the carving was too hard to grind, when the shuffled the dishes and the real pull-up stage was too late to take them, until the high-ranking people were advocating the course and then stormed into the pick-up。
Today, using complex professional terms, combining current innovative drug policy, funding, real performance data, four stages of extraction, dishwashing, lifting, delivery it is clear that, in view of the current status of the plate, the average person can see the current position and avoid the pits that 90 per cent of the members of the family have stepped on。
I. The four stages of the discourse are easy to understand in relation to life cases
Translating the four main cycles of operation into what ordinary people understand, using the example of wholesale vegetables in the vegetable market, immediately understands the logic of finance:
1. Inhalation phase: low price hoarding by the market goods
Corresponding stock markets: long-term decline in stock prices, no one's paying attention, and large institutions buy chips in low-value groups。
It is the case that cabbage from the market was more than available last year, that prices continued to decline and that very few people bought it. A large number of distributors know that the fall and winter cabbage will increase prices, receive small amounts of food every day, do not pick up prices once in a while, and occasionally deliberately press prices to create the illusion of falling prices, forcing the hoarders to sell at low prices。
Portable visual features: the index continues to experience low-level shocks, with large drops, small rebounds and voltages, low-point step-up, the market is empty, and nobody wants to talk about this track。
2. Dismantling phase: deliberate price-battered clean-up and wind-up household
Corresponding stock markets: once the inhalation is completed, the main force is under small pressure, broad-banded shocks, and short-line speculation, and palletization。
Once the wholesalers have accumulated enough cabbage, they will not immediately raise the price, but will deliberately sell a small batch of vegetables and reduce the price by two or three days. Those who had just arrived at a low price and could not afford to hold it, and who looked down and sold it, turned the chips back to the main power. This phase has been repeatedly rising and falling, and people with poor mentalities are easy to sell before they start。
Intuitive features: high-turning indices, large single-day rises and drops, good-for-goodness, wide-spread divisions, and a good-to-half-point web view。
3. Elevation phase: wholesale price increases to attract markets and wind
Corresponding stock markets: discretion ends, dominant forces drive stock prices upward and upward, yielding benefits, and the profit-making effect spreads。
The market recognizes the reverse supply of and demand for cabbage, and wholesalers begin to increase prices steadily, with small increases per day and occasional surges to attract large-scale crowds to buy vegetables. The profits of those holding the chips at this stage have been rapidly expanding, with an influx of funds from all roads, and a large increase in the volume of the plates, which has been broken down into tracks。
(c) portfolio visual features: synchronous high volume prices, retrenchment, rebuffing, constant de-targeting within the plate, continued institutional and north-to-north funding build-up, and heavy industry profits。
4. Delivery stage: high-priced sales of inventory, end of line
Corresponding stock markets: after a sharp rise in stock prices, the main forces have been able to sell their chips in bulk through a zealous market atmosphere。
Everyone in the market knows that cabbage prices are rising, that the aunt is queuing to buy, that wholesalers are taking the opportunity to sell their stocks in large quantities, and that the news of the “supplied cabbage going up” is attracting attention. By the time the inventory was cleared, the food prices quickly fell and all those who entered the field were taken。
Panorama features: high levels continue to be released, stock prices are high, the profits are cashed out and they fall directly, the diaspora follows the track and roadside chats are recommending the relevant shares。
Ii. Round-up of full-scale inhaling of innovative drugs: bottom grinding up to the end of 10 months, organization quietly layout
By comparing the above criteria, confirm when the innovative tablets are completed。
From september 2025 to the end of june 2026, when the september 2025 plate index was down, the whole 10-month cycle was full. At that time, the market was well-funded, semi-conductor technology tracks, medical plates had been frozen for a long time, and few people had taken the initiative to talk about innovative medicines。
At the bottom of this cycle there are three solid data support institutions that continue to suck up, and ordinary people can read it:
1. Sustained reversal of funds
North-to-north, second-year fund-raising reports show that the headline of innovative medicines is steadily bought, even if the index is falling, the primary net outflow is minimal, and the day of the big drop is quickly covered and the rate of digestion is extremely high. Many of the scattered families saw the fall of panic and cut meat, all of which was accepted by the agency。
2. Gradual lifting of the low index high
At the lowest point in the plate at the end of 2025, each subsequent rotation did not refresh the low in the preceding period and the typical base funds received signals. Without substantial and sustained buy-in, the decline will continue to be innovative and low, without bottom support。
3. Valuations have long been at historical lows
The constant innovation drug, the a-sharp innovation index valuation, hovered for 10 consecutive months at the end of almost five years, and industry fundamentals had improved, but stock prices had not been synchronized, and the difference in the value and price of scissors was a central incentive for long-line funding。
In the first half of 2026, there was a gradual improvement at the industrial level: a significant increase in the authorized trade in domestically produced innovative medicines to 80 per cent of total transactions in the first half of the year; a clear batch of new versions of the base drug catalogue incorporating innovative medicines; an exemption for patented new drugs collection; and a complete improvement in the industry's policy environment, but the stock price has never rebounded significantly; this is the typical operation whereby the main effort is used to leverage repeated compactor suction。
Brief summary: the 10-month-long shock at the bottom, the 100 per cent completion of the innovative drug-absorption phase, the low-priced chips are largely locked in institutions, and it will be difficult to return to the extreme lows of last year, waiting for a violent break-down, and continuing the main line。
Iii. Status of the plate at the end of july: lifting up the trunking dishwasher window, not pulling up the tailings, not coming out
Focusing on the issues of greatest concern to all: where are the innovative medicines now? In conjunction with the july comprehensive inventory, financial and industrial data synthesis, the current phase is in the early stages of the roll-up phase, with an increase in secondary concussion and a distance from the delivery phase。
Three layers of evidence are objectively disassembled, all of which are publicly available market data and are not subject to subjective assumptions:
(i) volkswagen trends: after the first round of pull in july, the main force was active shock-washed and floated
In mid-july, the first round of concentrated roll-up was followed by a sharp 3 per cent rise in the innovation index on 15 july, with dozens of shares rising and stopping, the first round of exploratory lifts after the ingestion had been completed. After lifting, broad-band shocks over a number of days, with single-day rises and drops exceeding 1 per cent, in late july, appear to be weak and are in fact standard dishwashing exercises。
The central purpose of the dishwashing is twofold:
First, to clean up short-line crowds that came in after the july surge, which were stymied, with subsequent upswings that were easy to concentrate on, pre-shock cleaning, and to reduce subsequent upswing
Second, raising the overall market holding costs, increasing the average price of new entrants and reducing the profit-discount during subsequent liftings。
The simplest way to distinguish between washing dishes and the delivery of goods is through a continuous contraction in the turnover of washing dishes and the lack of large-scale flight of funds for the downswing process; the downswing in the delivery phase is accompanied by a large volume of turnover, which continues to be sold in large quantities。
In late july, the roll-back phase saw a marked decline in turnover relative to peaks, a continued high balance in the financing of the innovative drug etf and a continuing low inflow of funds, which was completely incompatible with the characteristics of the export phase。
(ii) industrial fundamentals: performance, policy support, no good will to deliver fuck
At the delivery stage, there is a rigid premise that the industry will be fully profitable, that there will be no follow-on catalysts, that the market will be open to expectations and that there will be no support for actual performance. But the innovation industry is still on the rise, with multiple benefits that have not yet been fully realized:
Continuous recognition of performance points
This year, nearly 60 innovative pharmaceutical companies have issued half-yearly prognosis, with more than half of the firms forecasting an increase in net profits, more than a dozen more doubling their performance, and the industry moving out of its long-term loss cycle and into a period of steady profit growth. The following three quarterly and annual reports will continue to deliver on performance and will be adequately supported。
2. Sustained release of policy dividends
Biomedicine is formally defined as the emerging pillar industry, with innovative drug pricing, dual access to health care, streamlined clinical trial approvals, and a large number of new medicines being approved, and ongoing disclosure of overseas cooperative bd transactions, with a steady flow of catalysts in the medium to long term, with no good returns。
3. The scope for globalization of innovations in national production
In the first half of the year, the authorized overseas trade in new home-grown medicines exceeded hundreds of billions of dollars, with the country's forward line adc, peptide, cell therapy and so forth continuously clinically reading quality data, the industrial growth ceiling is far from being touched, and the industrial cycle is in the middle of the line, not the end。
(iii) market sentiment: popular madness that is far from reaching the delivery stage hot
When it comes to the delivery stage, there must be a popular outcry: the market for vegetables, the chess room, the short video review area, where ordinary people speak out as an innovative medicine, and are completely unaware of the large amounts of the bulk of the business。
In retrospect of the current state of the market: most of the diaspora still lacks confidence in the medical plate, a large number of the diaspora panics and looks after the shock of july, and there is a serious web divide between the views of many and those of others, and there is no zeal to follow。
Institutional holding data also support the fact that the general medical hold of the public fund remains historically low, that significant incremental funds are not fully in place, and that the institution does not have sufficient high-level chips for large-scale deliveries。
Iv. Distinguishing between lifting dishes, high-level cores, simple self-checking
To provide you with four criteria that can be checked on a daily basis without complex indicators. Any subsequent main line pattern can be self-determinated to avoid miscalculation of meat or high-level interfaces:
1. Traders
Washback: indentation at drop, temperature at increase
Delivery stage: declines continue to be applied in a constant manner, so as to increase the volume, with a marked deviation in price。
2. Index-point indicators
(b) disk relay: the echo does not break the current round pull-start low point and the support position is solid
Delivery phase: fast fall critical support, weak rebound, low point continuous down。
3. Financial flows
Laundry relay: small net inflows in north, etf, major capital return
Delivery phase: the main source of funds is a continuous, large net outflow and etf is continuously redeemed。
Market sentiment
(a) relay: the market is divided and half is empty
Delivery phase: people are looking at it with a common eye, and brainless stoked。
In contrast to the current innovative tablets, all four criteria meet the elevated dishwashing characteristics and none meet the conditions of the delivery phase。
V. A practical approach to the pay, middle- and old-age families, with a view to the appropriate stage, rather than focusing on the issue road
