The rally in the US stock market was stalled after the three major markets simultaneously declined at the close of trading (13/10/2020). Investors are starting to anticipate that the new stimulus agreement will be difficult to realize before the Presidential Election. In addition, the market is also getting less favorable from the temporary suspension of testing of the Covid-19 drug from Eli Lilly, as well as the vaccine from Johnson & Johnson.
The JCI movement today will still be influenced by developments around the Job Creation Law which is still rather controversial with the opposition. But the market also have good news from the daily Covid-19 cases in Indonesia which fell below 4,000 cases over the past 2 days. Technically, the JCI position is in the upper Bollinger Band with limited room for an increase.
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