Asian markets dropped significantly on Dow Jones overnight fall of 223 points but recovered in the afternoon session.KLCI also recovered slowly but closed lower at 1,072.69 lost 6.02 pts. Total Volume increased by 191 mln shares to 1,097 mln shares.
Market sentiment improved gradually after having a poor start at -773.25 points. The Intra-Day Oscillator was seen climbing step by step into the plus zone and ended at +9.80 pts gained 783.05 pts. But the Average still recorded a loss of 312.11 pts due to the poor start.
The Key Indicator (Blue) of the Daily MSO Chart fell in slower pace to -185.09 lost another 70.93 pts. Both 20MAV and 50MAV continued their South Pole journeys.
Conclusion
Unexpectedly, today’s market rebounded fast after tumbling by about 11 pts. The 223 points loss of US market didn’t have a real impact on the local market. Penny stocks have become active again as Total Volume surged over the one billion belt.
However, market now hinges in between optimistic and pessimistic analysis, there will be immense volatility ahead. Meantime, opportunities also arise for brave and sharp surfers. Of course, full vigilance must be exercised when one tides over the high and low. Watch out for a sudden recede as future market is full of uncertainty. The MSO is still not favor for any long position. (Constructed and shared by Smartbiz)
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