Classic Reversal Down For The Nasdaq Composite 纳斯达克综合指数的经典向下逆转

After bouncing from support for the last few days, the Nasdaq Composite has touched its 50 day moving average resistance at 8051 this morning and reversed to the downside. A Bearish Engulfing pattern which engulfed the range for the last 3 days is formed. If this pattern persists until today's market close, a downside reversal would be confirmed and the Nasdaq Composite will likely proceed to go down and test its August low at 7663. This market reversal is triggered by the following news headlines this morning, they are:

1.  Both Kansas City and Philadelphia Fed presidents said that they don't favor further interest cut.

2. August service PMI tumbled to 50.9, down from 53.0 in July, matching the lowest print in at least 3 years, and well below the 52.8 consensus expectation.

3. US manufacturing PMI unexpectedly tumbled into contraction territory at 49.90, down from 50.4 last month, and badly missing expectations of a 50.5 rebound. This was the first print below the 50.0 expansion threshold for the first time since September 2009.

在过去几天从支撑位反弹之后，纳斯达克综合指数今早已触及50日均线阻力位于8051，并逆转下行, 形成了吞没过去3天交易范围的看跌吞没模式。如果这种模式持续到今天收盘，则下行逆转将被证实，纳斯达克综合指数将继续下行并测试其8月低点7663。这一市场逆转是由今天上午的新闻头条引发的，它们是：

1。堪萨斯城和费城联储主席都表示他们不赞成进一步削减利息。

2。8月服务业PMI从7月的53.0跌至50.9，与至少3年的最低水平相当，远低于52.8的预期。

3。美国制造业采购经理人指数出乎意料地跌至收缩区域49.90，低于上个月的50.4，并严重低于预期的50.5反弹。这是自2009年9月以来首次低于50.0扩张门槛的数据。