Distressed Index Pruning Fed Stimulus

IN - Yesterday ( 29 / 01 ) JCI continue strengthening . JCI rose by 75.69 points at 4,417.34 , up 1.74 % . JCI rose as Asian stocks rose and Global amid investor concern that a meeting of the Fed stimulus plan for the reduction and slowing Chinese economy . Turkish Central Bank to raise interest rates to as low as 12 % in order to stop the decline in currency values ​​Lira , It was responded positively by investors . Turkey one of the emerging market countries are experiencing a decline in currency values ​​as a result of continuous foreign capital outflow due to fears the U.S. stimulus reduction . JCI is led by the infrastructure sector which rose 2:52 % . Foreign investors recorded a net buy of Rp245 billion .
Overnight Wall Street closed lower , where the Dow Jones fell by 1.19 % to 15,738.79 , the S & P fell 1.02 % to 1,774.20 and the Nasdaq composite index also fell 1.14 % to 4,051.43 . In a meeting of the Federal Open Market Committee ( FOMC ) last Fed under Ben Bernanke's leadership last night decided to cut back back stimulus programs amounting to USD 10 billion to USD 65 billion . In addition , the Fed would maintain low interest rates at the rate of 0.25 % .
Today we expect the JCI move mixed sentiments tend to be depressed by trimming stimulus by the Fed . Asian markets opened this morning the average sentiment weakened also due to Japan's retail sales declined . Technically , JCI and formed a bullish belt hold is above the middle bolingger bands . MACD histogram to move sideways with negative retracts , the stochastic indicator still in the neutral area . We expect JCI to move in the range of support at 4.356 and resistance at 4,478 level 

soure: http://finance.detik.com/read/2014/01/30/083851/2482738/1015/oso-securities-indeks-tertekan-pemangkasan-stimulus-the-fed