The Dow Jones Index closed higher by 1.1%/345 points. At the same time, the Nasdaq and S&P500 managed to experience gains of 2.6% and 1.8%, respectively, as US Initial Jobless Claims data reported 225,000 for the week ended Dec. 24, rising as expected from 216,000 the previous week, indicating that the US economy is starting to slow down. Thus, the market hopes the US central bank can end the pace of benchmark interest rate rise. The economic data also triggered a decline in government bond yields, giving positive sentiment for technology stocks, considering that workers’ income growth will slow down.

JCI can finally rise above the MA10 & MA20 Support after buying interest returned when the JCI was overshot to a Low of 6786, indicating a Bull, yet still has hope for a victory. Today, further solid strengthening will be tried, especially with support from the regional market sentiment, with an attempt to go to the level 6950-6960 (up to 7000); to create a better year-end JCI position on the last trading day of 2022. Foreign Net Sell (all market) is still recorded at IDR1.7 trillion, while the Foreign Net Buy is slightly flat at IDR62.9 trillion YTD.

Download full report HERE.