Locally, FBM KLCI but followed the losers to move in the red for the whole day to end at 1,171.31 lost 3.59. Total Volume decreased by 461 mln shares to 795 mln shares.
Market sentiment was sluggish with the Oscillator fell into red most of the time and only last minute buying lifted it to end at +17.51 lost 316.84 from the starting. The Average recorded a loss of 91.37.
The Key Indicator (Blue) of the Daily MSO Chart hooked slightly down to +149.38 lost 72.81. MS20 edged higher but MS50 down.
No stimulation, no excitement, the merger of Main and Second Boards did not give the market a push as claimed by many analysts. Instead, market chose to follow losers in the regional markets and stayed in red all the time.
Recently, market sentiment was very volatile, flip-flop day by day. Volume also increased and decreased in alternate sessions. This is an evidence of investors’ ambivalences.
Indicators in the MSO also followed market sentiment swung up and down and almost lost their directions. The only thing to pacify the readers is all of them still remain in positive zone. Forward movement of the market is hard to predict now. Punters better stay low profiles for the sake of safety. (Constructed and Shared by Smartbiz)
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