- JCI continued its descent to hit the 200-day EMA at around 4610-4630 and reached as low as 4573 before it settled the day at 4609.95. As the selling pressure stays strong, the upside looks increasingly limited. Prior support now turns as resistance at 4721.32, while the next support is seen at yesterday's low at 4573, followed by 4465 and 4444.
- Haruhiko Kuroda's statement that the Bank of Japan will consider longer funding operations whenever necessary and the BOJ's decision to leave the rates steady while refraining from expanding its stimulus package have added more concern on the market that the era of abundant stimulus is indeed coming to an end. Last week's ECB's Mario Draghi also hinted that the ECB will shelve its monetary tools for now, which means no more stimulus should be expected in euroland.
- After getting a black eye on BIPI earlier this week, another recommendation had been forced to close. APLN hit its stop point below 440 and this netted out a loss of 9.38%. Now there are 10 remaining recommendations outstanding, with just two staying above water.
Selasa, 11 Juni 2013
Morning Dew - 12 June 2013
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