- Another slip below the 5k mark for JCI, but it managed to stay afloat above the support at 4,960. Again, the index will face resistances at 5,026.92, 5,089 and 5,120 while supports stay at 4,960, 4,940 and 4,920 before the key 4,895. Expect another consolidation around the 5k mark during the upcoming Friday session.
- U.S.'s better-than-expected jobless claims provided some boost for the Dow as claims fell 16k to 339k during last week. The reading came in below the consensus of 350k. The smaller the number, the better. U.K. GDP also came in better than expected as growth was reportedly at 0.3% in 1Q13. Rate cut expectation in Euro zone remains a positive catalyst for now as inflation under control while German economic outlook dims.
- Final day of the week will feature U.S. GDP for the 1Q13 as well as U of Michigan confidence index for April. Confidence is seen up from 72.3 to 73.5 while U.S. GDP is seen growing at 3.1% pace in 1Q13.
- Friday's session is seen neutral with slightly positive bias for the JCI as the index is set to continue struggling to defend its ground above 5k mark.
Kamis, 25 April 2013
Morning Dew - 26 April 2013
Key Points
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