The Market Is Not Done Going Down 美股还没跌完

The US stock market bounces today from yesterday's sharp drop but more downside is likely because:

1. US/China trade war intensified as Trump increased tariff of Chinese products and China retaliates by weakening RMB and not buying US agricultural products.

2. Yesterday's big drop in the market provided downside momentum, it can't just stop without good support. The nearest meaningful support are the 200 day moving averages of the major market indexes. They are so close and likely be tested. S&P 500's 200 DMA is 2790.

3. US major market indexes bounced up strongly early today but giving it up at one point and is now
only maintain small portions of this morning's gains.

4. European stock markets have closed nearly their lows.

5. VXX refuses to come down after early weakness.

美国股市今天从昨天的大幅下跌后反弹，但更多的下跌可能会随之而来因为：

1. 随着特朗普提高中国产品关税和中国通过削弱人民币并且不购买美国农产品进行报复，美中贸易战愈演愈烈。

2. 昨天市场的大幅下跌提供了下行动力，它不能在没有良好支撑的情况下停止。 最接近而有意义的支撑位是主要市场指数的200天移动平均线。 它们以及经非常接近，被测试的可能性大。 标准普尔500指数的200DMA室2790。

3. 美国主要市场指数在今天早些时候强劲反弹，但却一度放弃所有涨幅而现在只维持今天早上收益的一小部分。

4. 欧洲股市已接近低点收盘。

5. VXX经早上的疲软之后拒绝再跌。