- String of negative catalysts continue to send the market sentiment downhill. Chinese equities nosedived on Monday, dragging it into the bear market and taking along with it the regional indexes such as Hong Kong, Japan and also JCI. Cash crunch in China added with the prospect of stimulus removal in U.S. plus some worries over Europe resulted in more downside pressure for global stocks.
- JCI fell to 4429, within spitting distance to the next support at 4422 which if lost will send the index even lower towards the next pitstop at 4139. MACD continues to break lower, but volume also fell, suggesting that despite the decline, the downside momentum is fading. Still, upside is very much limited to 4510 in the short-term. Even 4880 now looks like a tough resistance to crack. The Dow's losses overnight could mean it won't be a nice weather this Tuesday.
- We lost another on Monday as BKSL fell below 240. The recommendation pool is now down to nine and all nine are losing out at the moment.
- On another front, Goldman Sachs has cut its gold forecasts for 2013 to $1,300 per troy oz. in 4Q and to $1,050 per troy oz in 4Q14…
Senin, 24 Juni 2013
Morning Dew - 25 June 2013
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