- JCI started Tuesday session positively before it came crashing later on and finished down by 0.24%. The lowest point scored was 4373 but later on the index settled at 4418. Support remains crucial at 4139 but as the downside looks overdone for the moment, expect a healthy rebound to bring the index back to around 4510 again. Stronger rebound may see itself capped at more solid resistance at 4880.
- Thanks to a string of positive economic data from the U.S., the market finally took a breather as the Dow finished the Tuesday session up 100 points while the S&P and NASDAQ finished up 0.95% and 0.82%, respectively. This could set up a nice rebound for Asian indexes on Wednesday. Consumer confidence index climbed from 74.3 to 81.4 in June, goods orders also jumped 3.6%, beating consensus, while new home sales soared to a five-year high along with the increase in US housing prices.
- Still, the better the economic data in the U.S., the sooner the Fed will unwind its stimulus. At the moment, the scale down is expected in the September at the earliest, while in a year the stimulus could be gone.
Selasa, 25 Juni 2013
Morning Dew - 26 June 2013
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