The US stock market closed last weekend (20/08) with a significant rebound, although it has not been able to erase the decline throughout the week. The Federal Reserve has signaled a possible start of tapering later this year. Meanwhile, the market was also pressured by falling oil prices in line with expectations of weak demand due to the spread of the Delta variant.
Over the past week, JCI again posted a sharp decline of 1.77%; although foreign investors still booked a net buy of IDR 1.9 trillion. Global market participants will be watching for further signals from the Federal Reserve at its annual meeting scheduled for this week. Technically, JCI’s movement for today is projected to be in the range of 5,950 – 6,160.
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