Overall market sentiment remains weak as both indicators were trapped inside the downtrend channel and the Histogram has started its downside journey. Any rebound by small-cap or penny stocks should be shortlived.
Shares in Tokyo recovered some of their morning losses, with the Nikkei average finishing the day at 8962.67, down 1.4%, as hope grew once more of progress in bringing a Japanese nuclear facility under control. It had been down as much as 4% in the morning.
"It's been a pretty rough week so maybe there's some short covering near Tuesday's low," said RBS head of sales, Justin Gallagher. "Japan's nuclear crisis is clearly the main issue. But there's also the weak U.S. housing data and concern about inflationary pressures in the U.S." (WSJ)
At closing, Japanese market lost 1.44%, China 1.14%, Hong Kong 1.83%, Singapore 0.69% and Malaysia 0.02%.
FBMKLCI
FBMKLCI recovered 8 points from a morning drop of about 12 points and moved sideways for the rest of the session. However, last minute buying pulled the index to end almost at par at 1,492.09 (-0.35/0.02%). Total Volume was 922m (-9m), gainer 285 and loser 435. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment
Market sentiment hovered in weaknesses whole day and only picked up during the last few minutes as the key index moved higher. The Oscillator surged to end at its day-high at -308.32; gained 416.47 when compares with its starting point. The Average recorded a loss of 610.15.
Conclusion
Japanese headlines continued to scare investors with deteriorating situation in its 4 nuclear plants and were told government might not be able to control the radiation disaster. But, local sentiment was not as bad as others as investor continued to do bottom fishing after most analysts said the Japanese earthquake would not really affect our economy much.
After closing, FBMKLCI finished almost at par and the immediate resistance has now shifted to 1,492. It is opined that the index will move sideways within a tight range between 1,480 and 1,500 as all indicators in the chart show uncertain signals. The landscape will only be changed after the index broke through the 1,500 barrier. (Chart extracted from ChartNexus)
On the other hand, %K Line (yellow) of MSCD recorded as -418.57 (-34.82), %D Line (red) -390.63 (-17.57) and the Histogram -6.91 (-5.26). Both indicators hooked slightly down and the Histogram printed a slightly longer negative bar.
Overall market sentiment remains weak as both indicators were trapped inside the downtrend channel and the Histogram has started its downside journey. Any rebound by small-cap or penny stocks should be shortlived.
Shares in Tokyo recovered some of their morning losses, with the Nikkei average finishing the day at 8962.67, down 1.4%, as hope grew once more of progress in bringing a Japanese nuclear facility under control. It had been down as much as 4% in the morning.
"It's been a pretty rough week so maybe there's some short covering near Tuesday's low," said RBS head of sales, Justin Gallagher. "Japan's nuclear crisis is clearly the main issue. But there's also the weak U.S. housing data and concern about inflationary pressures in the U.S." (WSJ)
At closing, Japanese market lost 1.44%, China 1.14%, Hong Kong 1.83%, Singapore 0.69% and Malaysia 0.02%.
FBMKLCI FBMKLCI recovered 8 points from a morning drop of about 12 points and moved sideways for the rest of the session. However, last minute buying pulled the index to end almost at par at 1,492.09 (-0.35/0.02%). Total Volume was 922m (-9m), gainer 285 and loser 435. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment Market sentiment hovered in weaknesses whole day and only picked up during the last few minutes as the key index moved higher. The Oscillator surged to end at its day-high at -308.32; gained 416.47 when compares with its starting point. The Average recorded a loss of 610.15.
Conclusion
Japanese headlines continued to scare investors with deteriorating situation in its 4 nuclear plants and were told government might not be able to control the radiation disaster. But, local sentiment was not as bad as others as investor continued to do bottom fishing after most analysts said the Japanese earthquake would not really affect our economy much.
After closing, FBMKLCI finished almost at par and the immediate resistance has now shifted to 1,492. It is opined that the index will move sideways within a tight range between 1,480 and 1,500 as all indicators in the chart show uncertain signals. The landscape will only be changed after the index broke through the 1,500 barrier. (Chart extracted from ChartNexus) 
On the other hand, %K Line (yellow) of MSCD recorded as -418.57 (-34.82), %D Line (red) -390.63 (-17.57) and the Histogram -6.91 (-5.26). Both indicators hooked slightly down and the Histogram printed a slightly longer negative bar.Overall market sentiment remains weak as both indicators were trapped inside the downtrend channel and the Histogram has started its downside journey. Any rebound by small-cap or penny stocks should be shortlived.
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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