Stock Market Retest Of Low Is Inevitable 股市重新测试低点已不能避免

After surging up more than 1000 Dow points yesterday, the Dow is down over 700 today.  This means the oversold bounce and positive reaction to Feds 0.5% interest drop is over. With bench market index S&P 500 dropped below its 200 day moving average 3050 again,  while fear gauge VIX looks ready to breakout, technicals sure call for a retest of previous low at 2855. The big worry is the COVID-19 is still rampaging all over the world and every soon it is going to hit the United States big time and panic sell will set in. Tomorrow is a Friday, more selling is to be expected as people don't want to keep positions overnight. Strategy is sell on rallies.

昨天道琼斯指数上涨了1000点以上后，今天下却跌了700多点。 这意味着超卖反弹以及对美联储降息0.5％的积极反应已经结束。 随着基准市场指数标准普尔500指数再次跌低于200日移动均线3050以下，而恐慌指数看来有准被突破，技术面指向重新测试之前的低点2855。目前最大的担忧是COVID-19病毒仍在全球范围内迅速蔓延，相信很快就会在美国全面流行而导致恐慌性抛售股票。明天是星期五，由于人们不想在保持头寸过周末，预计会有更多抛售。 策略是逢高卖出。