- JCI edged slightly higher to finish the day at 5089.88. The attempt to break through the resistance at 5115 was thwarted for now although this will remain as the first hurdle to take on Thursday. Next to the upcoming resistance at 5115 are 5158 and 5238-5242 while support comes at 5030 first, followed by 5012, 4987 and 4957.
- Despite poor economic releases on Wednesday, U.S. stocks continue to surge higher. Timid inflation and soft global economic outlook are seen reinforcing the case for prolonged period of accomodative policy among key economies. The Dow continued to move into uncharted territories along with the S&P index.
- No change in view as the JCI is seen tilted to the upside again on Thursday. Domestic catalysts may present risk but support from global sentiment should keep the downside limited for now.
Rabu, 15 Mei 2013
Morning Dew - 16 May 2013
Key Points
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