BEAR Outlook is on my view since last week the triple witching day. Even the indexes closed at positive area at that day, but still I have a different point of view that market is still in BEAR.
First thing that still make me pessimistic view is the economic data of US that still showing unfavorable. Hence, there are a lot of anxiety of investors to the stock market. Secondly, the rating of bonds, credits of Euro countries are degrading, which reduce the credibility of the country exceptional for German. Thirdly, the anxiety of Greek's credit for the next 5 years which is expected to be a doubtful debt again.
Let's go back to Indonesia. As analyst said that the Yuan's movement by the MoF of China, will be a good impact for Indonesian export, which will also have a good impact to our country, but still the news can't lift up our index that makes our index still plunge 0.5% this morning.
In the technical view, we can see that JKSE is forming a double top pattern which failed to break 2926 resistance which pull back again. But remember that the double top pattern is confirmed with some criteria like, the increment of volume when the slope is created, secondly it must break the neck line with a great volume, that's the confirmed double top pattern.
Rating: HOLD
Happy Investing^^
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