Asian stocks mostly traded to the downside on Monday, after a lackluster U.S. job report drove Wall Street lower Friday, but trading volume was light with Japan markets closed for a public holiday. (Yahoo)
After 5.00pm, Asian major markets ended lower with Chinese market tumbled 1.64%, Hong Kong shed 0.67% and Singapore 0.85%. At the local front, FBMKLCI slid into the red shortly after opening. This time, it lied underneath the zero line for the remaining session and ended off low at 1,563.52 (-8.69/0.55%). Total Volume was 2,226m (-309m).
Market sentiment started extremely optimistic but receded swiftly. The oscillator fell into negative zone after the break but recouped most of the losses before closing to end at -267.98 lost 2,661.56 when comparing with its starting point. The Average recorded a gain of 38.26.
ConclusionMarket sentiment took a breather as the index went through a healthy correction, today.
In the MSCD, K% Line (yellow) recorded as +439.52 (-72.93), D% Line (red) +251.46 (-17.06) and the Histogram +160.58 (+6.87).
After today’s trade, both key indicators hooked slightly down but the Histogram continued to print a longer positive bar. Technically, investor confidence in market remains intact. Today’s weakness is just a breather for a longer journey. A watch-out will only trigger when the histogram starts to form its first shorter bar.
Constructed and Written by Smartbiz (Click on chart to view)
(Note: You can read the explanation for Intra-Day MSO and MSCD from the achieves under heading "Labels" at the lower portion of the sidebar.)
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