Morning Dew - September 4th 2013

Key Points

• JCI bounced off from its support at 4058 and jumped 1.53% to end the session at 4164.01. The rally still unable to break through the prior high at 4206.95 however, but once it can clear this resistance the door towards a test of previous support-turns-resistance at 4373 will be open once more. Strings of bad data might have taken their toll on JCI recently, but as the market ran out of negative catalysts the index may gradually recover instead. The next big thing for investors will be the release of non-farm payrolls data next Friday as well as the FOMC meeting at the middle of September.
• US stocks gained after it was shutdown on Monday due to public holiday. ISM for manufacturing sector data showed a better than expected reading in August. The index ticked up to 55.7 from 55.4, against the consensus of 54. Construction spending also gained the most in the last four years as residential real estate increased.
• There is no change in view of the recommended stocks. All but ARNA has made their ways to the greens, however. PTPP and PGAS are currently gaining 8.42% and 6.86%, respectively, while JPFA and MDLN are up 3.48% and 1.47%, respectively. ARNA is still down 3.41% by the end of Tuesday's session.

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