4 Reasons For The US Stock Market Not Yet Bottom 美股还没见底的4个理由

After a five-day rally, the Dow, S&P 500 and Nasdaq have risen about 7% on average. They are now facing the 20-day moving average resistance levels of 31744, 3944 and 11496 respectively. 4 reasons indicate that the US stock market has not bottomed out yet:

1. The Fed is accelerating rate hikes, increasing the chances of the economy entering a recession.  Wall Street motto: Don't go against Fed policy.

2. The major indices were clearly in downtrends as they still failed to recover above even their 20-day moving average. Wall Street motto: Don't go against market trends.

3. The second quarter earnings report will start in the second week of July. Inflation and supply chain disruptions caused by the Russian-Ukrainian war and the closure of Shanghai due to the Covid virus have had  huge impact on corporate revenues in the second quarter, and the outlook is unlikely to be good. 

4. The Fear Index VIX is now at only 27 while the most panic levels seen before bottoming out at 41, 50, 53 and 85 in history.

经过5天的跌深反弹后， 道指，标普500及纳指平均已经上升了约7%。他们现在面对20日均线阻力水平分别为31744， 3944及11496. 4个理由判断美股市场还没见底：

1。联储正在加速加息，增加了经济进入不景气的机会，同时华尔街格言说：不能与联储政策作对。

2。各大指数图形明显在跌势中，因为它们连20日均线都未能向上收复。华尔街格言：不能和市场趋势作对。

3。第二季财报将在7月第二个星期开始， 俄乌战争及中国上海因Covid病毒封城所导致的通胀及供应链断裂对第二季企业营收影响特大， 前景展望也很难会好。

4。恐慌指数VIX现在只是在27，而以前见过的见底前的最恐慌水平是41，50，53及85。