Malaysia Market – End of the Day

Asian shares edged up on Friday as strong Chinese economic data supported regional recovery hopes, but Japanese exporters were hurt by a stronger yen as the dollar fell to its lowest in a year against a basket of currencies. The strong overall data from Asia's economic leader could further encourage a recent trend toward riskier assets such as equities.

At the local front, FBM KLCI continued its sideway path after opening with gain of about 10 points. The Index finished at its low at 1,208.28 gained 7.00 or 0.58%. Total Volume decreased by 133 mln to 516 mln.

Market enthusiasm faded fast with the Oscillator opened in positive note but swiftly sank into red in the afternoon session. The Oscillator ended at -102.38 lost 204.99 from the starting point. The Average recorded a loss of 34.51.

The Key Indicator (Blue) of the Daily MSO Chart curved down to meet MS50 at +73.89 lost 28.34. MS50 edged a bit higher but MS20 hooked down sharply.

Conclusion
FBMKLCI recorded yet another new high but volume shrank to a bit more than 500 mln. Are we going to call this a bull market? Definitely not; because volume is only about one-forth of a real bull market. Are we going to call this a bear market? We cannot; because KLCI is setting records after records. So, we call this as a “Goat” market - Not look like “Bull” and not look like “Bear”, either.

After today’s trade, MS5 curves down and prepares to breach MS50. Based on present market sentiment, MS5 will sink into red very soon. Investors should take a breather until clearer indication from MSO. (Constructed and Shared by Smartbiz)