- JCI almost erased its entire gains on Thursday as the index ended slightly up by 0.1%. Lack of positive catalysts made the earlier gains unsustainable despite later on the ECB pledged its stance that it will keep the rates at the low level for an extended period, contrasting the Fed's which have prepped the market for a shift in policy. US markets were closed for Independence Day on Thursday, so any gains on Friday should be relatively limited.
- The technical outlook remains bleak as the index failed to return inside the EMA envelope while the MACD resumed its decline. European boost may keep the downside limited for now, but support is seen at 4543, followed by 4478. Uptick attempts on the other hand, will be capped at around 4818.9 due to lack of guidance from the Street. Above 4818.9 will mean the wave b of B has been completed at 4577 and that wave c of B may aim at 5022/5044 for completion.
- Friday's data will feature the key nonfarm payrolls. US economy is expected to have added 165k jobs in June, slower than 175k added a month earlier. Unemployment rate however, is seen at 7.5%, down from 7.6%. Note that both data came from different set of survey, hence the difference. This week's ADP suggests that the NFP could turn out to be better.
Kamis, 04 Juli 2013
Morning Dew - 5 July 2013
Key Points
Langganan:
Posting Komentar (Atom)
Tidak ada komentar:
Posting Komentar