The major US markets were still able to continue the rally, recording a new high throughout last week. Investors still have high hopes for a further stimulus package after the Democrats won control of the US Senate. Meanwhile, data releases show the unemployment rate is at 6.7%.
Improvements in economic data and the Covid-19 vaccination plan were also able to increase the JCI by 4.7% over the past week. However, the stochastic indicator is already in the overbought area, causing the stock market to be vulnerable for profit taking this week. Today, JCI movement is expected to be in the range of 6,158-6,350.
Download full report HERE.