for the week starting 20 May 2013
There have been some good economic data releases such as unemployment rate drops, better than expected growth numbers.
Over the weekend I did a quick survey on the CPI (Consumer Price Index), which is an important indicator for inflation of the economy. It seems that, along with a monthly 85 Billion bond purchase program, the economy didn't inflate much... either the eurozone debt crisis has dampen the supply, or indirectly it implies the market is still weak.
However, stock market is bullish, DJIA has risen above our target level of 15250 pts.
Over the weekend I did a quick survey on the CPI (Consumer Price Index), which is an important indicator for inflation of the economy. It seems that, along with a monthly 85 Billion bond purchase program, the economy didn't inflate much... either the eurozone debt crisis has dampen the supply, or indirectly it implies the market is still weak.
However, stock market is bullish, DJIA has risen above our target level of 15250 pts.
DJIA last done 15350 pts.
And we forecast market to continue the bullish sentiments.
There are some rumours about the Fed might consider cutting down the bond purchase program, or the MBS (Mortgage Backed Securities) as we continue seeing good numbers from job market, the decision from Fed, or the next policy review shall fall in mid/end of June 2013.
Most likely the bullish sentiment shall continue and we are looking toward 15550 pts.
Support 15300 pts
Strong Support 15200 pts
Resistance 15350 pts
Target 15550 pts
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