Share market has its own route to follow. Never think of maximizing your profit on something that you are not in control!
Asian stocks suffered a second session of sharp losses on Thursday, while the dollar struggled to make much headway after the U.S. central bank chief signaled the recovery in the world's biggest economy was still fragile.
China's main stock index ended up 1.6 percent, led by a rebound in property and bank shares, which fell the previous day following an interest rate rise by the central bank.
Analysts said investors also bought software and agricultural companies which are considered a safe bet due to friendly government policies to support the sectors. (Yahoo)
On closing, Japanese market down by 0.11%, Hong Kong 1.97%, Singapore 1.47% but China up by 1.62%,.
At the local front, FBMKLCI tumbled about 19 points shortly after opening and lingering under the cliff for the rest of the morning session. In the afternoon, the index followed regional markets slipped deeper into the valley to end at its day-low at 1,503.99 (-32.08/2.09%). Total Volume was 2,224m (-28m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment followed the index progressed in sorrow tone with selling accelerated after the break. The Oscillator tumbled deeper to end at -2,925.27 lost 1,147.87 when comparing with its starting point. The Average recorded a loss of 1,951.65.
Conclusion
The worry came true.
Today, the bellwether index, FBMLCI, almost gave back all the gains that it made for this year. It is one of the darkest days since the day of the financial crisis. It proves that all the “feel good” analysis made before by analysts were just some sort of self-satisfaction. Share market has its own route to follow. Never think of maximizing your profit on something that you are not in control! (Chart extracted from 188OMS)
Based on charts, FBMKLCI has the tendency to fall deeper before it rebounds. Its next supports are 1,500 and then 1,495. If it rebounds, the resistance will be around 1,518 to 1,520.
In MSCD, K% Line (yellow) recorded as -256.69 (-308.06), D% Line (red) -144.61 (-144.62) and the Histogram -25.03 (-21.76).
After today’s trade, both key indicators fell sharply into the red with K% Line cut D% Line decisively from above. The Histogram returned to the red and printed a longer negative bar. Technically, overall market sentiment has reversed into bearish mode and the sharp falls of all indicators depict a tough recovery near-term. Investor’s confidence was hardly hit and will take a longer time to recover even the index rebounds.
Asian stocks suffered a second session of sharp losses on Thursday, while the dollar struggled to make much headway after the U.S. central bank chief signaled the recovery in the world's biggest economy was still fragile.
China's main stock index ended up 1.6 percent, led by a rebound in property and bank shares, which fell the previous day following an interest rate rise by the central bank.
Analysts said investors also bought software and agricultural companies which are considered a safe bet due to friendly government policies to support the sectors. (Yahoo)On closing, Japanese market down by 0.11%, Hong Kong 1.97%, Singapore 1.47% but China up by 1.62%,.
At the local front, FBMKLCI tumbled about 19 points shortly after opening and lingering under the cliff for the rest of the morning session. In the afternoon, the index followed regional markets slipped deeper into the valley to end at its day-low at 1,503.99 (-32.08/2.09%). Total Volume was 2,224m (-28m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment followed the index progressed in sorrow tone with selling accelerated after the break. The Oscillator tumbled deeper to end at -2,925.27 lost 1,147.87 when comparing with its starting point. The Average recorded a loss of 1,951.65.
ConclusionThe worry came true.
Today, the bellwether index, FBMLCI, almost gave back all the gains that it made for this year. It is one of the darkest days since the day of the financial crisis. It proves that all the “feel good” analysis made before by analysts were just some sort of self-satisfaction. Share market has its own route to follow. Never think of maximizing your profit on something that you are not in control! (Chart extracted from 188OMS)
Based on charts, FBMKLCI has the tendency to fall deeper before it rebounds. Its next supports are 1,500 and then 1,495. If it rebounds, the resistance will be around 1,518 to 1,520.
In MSCD, K% Line (yellow) recorded as -256.69 (-308.06), D% Line (red) -144.61 (-144.62) and the Histogram -25.03 (-21.76).After today’s trade, both key indicators fell sharply into the red with K% Line cut D% Line decisively from above. The Histogram returned to the red and printed a longer negative bar. Technically, overall market sentiment has reversed into bearish mode and the sharp falls of all indicators depict a tough recovery near-term. Investor’s confidence was hardly hit and will take a longer time to recover even the index rebounds.
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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