- JCI started off the weak on a weaker note as the market awaits the Fed's next FOMC meeting on September 17-18 when the central bank is seen starting its stimulus reduction. Support at 4000-4016 still holding at the moment but is poised to be tested on Tuesday while on the upside the resistance at 4373 looks strong enough to dampen any recovery attempts.
- US stocks ended down on Monday as Fed jitters took the market hostage as well as the Fed meeting looms large. In addition, durable goods orders fell 7.3% in July, reversing a 3.9% gain in a month earlier. Despite the data is weak, the market seems ready to face the tapering of stimulus next month. It's no longer about IF the stimulus going to be reduced but rather, it's about how much the reduction will be.
- Out of five stocks recommended only PGAS stays in the green while IMAS, ARNA, MDLN, and ULTJ fell below their respective entry prices. There is no change on the recommendations while we still refrain from adding more stocks into the pool. Tuesday is seen as another potential decliner as US stocks faltered overnight. Upside is seen limited for now.
Senin, 26 Agustus 2013
Morning Dew - 27 August 2013
Key Points
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