Weak Technology Stocks Are Stock Market's Drag 科技股疲软是股市的拖累

The changing US-China trade news is the key for market direction. Investors are reacting to every piece of trade news and have been driving the stock market up or down violently. Today, Bloomberg News reported Trump administration officials are considering delisting Chinese companies from American stock exchanges and putting a limit on U.S. government pension funds’ exposure to the Chinese market, although the discussion is in its preliminary stages. This is seen as Trump administration is increasing pressure on China to come to terms on a trade deal.  On the news, US listed Chinese stocks such as BABA, JD, SINA, TCEHY are down nearly 5% on average. The news turned Dow's earlier 121 point rise to a 98 point down now. The damage is more than 3 times larger in the technology concentrated Nasdaq Composite index as it is down more than 1%. Micron Technology's (MU -10.43%) less satisfactory earning report and weaker than expected outlook is a drag. Technically, the Nasdaq Composite is in trouble as it dropped below its 20 and 50 day moving average supports and also traced out a bearish 5 month Head and Shoulder Top pattern. Tech sectors such as semiconductor SMH, software IGV, internet FDN, social media SOCL and FAANG stocks are all weak. Nasdaq Composite looks trending towards its 200 day moving average support at 7695, while it's 50 day moving average at 8040 is its resistance.

中美贸易新闻的变化是市场走向的关键。投资者对每一则贸易新闻都做出反应，并一直在猛烈推动股市上涨或下跌。今天，《彭博新闻》报道，特朗普政府官员正在考虑将中国公司从美国证券交易所退市，并限制美国政府养老基金投资在中国市场，尽管讨论尚处于初步阶段。这被视为特朗普政府对中国在达成贸易协议方面施压。受此消息影响，在美国上市的中国股票，如BABA，JD，SINA及TCEHY平均下跌近5％。这一消息使道琼斯指数从早先的121点上升到现在的下跌98点。科技​​股集中的纳斯达克综合指数今天跌幅超过1％，损失要比道指大3倍以上。美光科技（MU -10.43%）的业绩报告不尽如人意且前景展望低于预期是个拖累。从技术上讲，纳斯达克综合指数已造成了相当的破坏，因为它跌破了20天和50天移动平均线的支撑位，并且还造成了看跌的5个月头肩顶形态。半导体SMH，软件IGV，互联网FDN，社交媒体SOCL和FAANG股票等科技板块均疲弱。纳斯达克综合指数看似会跌向200日移动平均线支撑位7695，而其50日移动平均线8080则是上行的阻力位。