Suddenly at the end of the day, everything rebounded that surprisingly reducing short sellers profits. Hence, it might be a technical rebound that after days of black. But, for your information that underlying like Crude Oil didn't affected by the market said OPEC, that they said this declines is just a psychological decline. Which might be quite true, let's see today...
As this morning CL has dropped to it's support level at $70s & finally rebounded.
Futures are greening at the end of the day...
Tomorrow might be an optimistic day, but still we must be quite careful as this might be a bull-trap.
Happy Investing^^
Disclaimer ON!!!
Monday 17 May 2010
Morning Break!!!
Our index is projected to be closing lower roday as there's no good sentiments in regional market.
In the morning, Dow-Futures (YM) is traded lower about 70 pts, while S&P-Futures (ES)is traded lower about 8 pts. In the other hand, as I analyzed days ago that Light Sweet Crude Oil (CL) will go down, yet it has been traded lower, for May expiration futures have declined around $1, for June Expiration futures have been traded $1.22 lower than the previous closing, this might give some impacts to our stock price as most of them will be traded lower.
Target upward movement of JKSE is only up to 2870-2885 around middle bollinger at 2886 is the most & that's our time for us to realized the profit or even realize some losses. This target is counted based on Elliot Wave theory & Fibonacci ratio, so it's quite wise for us to take profit.
Happy Investing^^
Disclaimer ON!!!
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