- Deadlock over the budget negotiations between the Republicans and the Democrats have led the US into shutdown. Global market sentiment took a blow initially, but recovered afterwards. In the case of JCI, the ailing sentiment got picked up by inflation data released which showed that inflation was down in September by 0.35% month-on-month. Meanwhile, trade account data also released at the same day showed a surplus of US$132.4 million.
- Domestic data trumped the US shutdown issue afterwards as the JCI soared to the gaining side and eventually finished the day up almost 0.7%. Despite the turnaround, technically speaking the daily chart urges caution as the MACD has just turned negative and that we are still stuck below the EMA envelope, a bearish indication. Resistances remain at 4444 and 4545. The first is the 50-day EMA, while the latter is the crossover between the 100-day and 200-day EMA. At the downside, 4207 is surely going to be the key support, followed by 4012 and 3837.
- No change in view on the recommendations, no new additions as well. So far, three are in the green while four are still underwater.
Selasa, 01 Oktober 2013
Morning Dew - 2 October 2013
Key Points
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