Today, regional sentiment was hit after a fire broke out early Tuesday at the crippled Fukushima Daiichi No. 4 reactor unit. 
Local sentiment continued to subside with the intra-day Oscillator sliding deep in the red and ended at -1,251.58; lost 889.98 when compares with its starting point. The Average recorded a loss of 876.87.At the end of the day, %K Line (yellow) of MSCD recorded as -147.90 (-132.48), %D Line (red) -67.14 (-64.80) and the Histogram +72.74 (-38.25). Both indicators fell deeper into the red and the Histogram printed another shorter bar nearer to the negative zone.
The MSCD shows that overall market sentiment has reversed into bearish mode with investor confidence shrinking as volume decreased significantly. Low-liners will take longer time to recover while waiting for blue chips to lead (except for those news-driven counters). Traders should stay at bay and wait for clearer indication from charts to re-enter.
FBMKLCI FBMKLCI lost more than 18 points today breaking support after support. The index is now dropping near its 50-day MA around 1,520 and the next support is 1,513. So far, no valid news released by the “Invest Malaysia” have provided the necessary support for the market. Hopefully, the Seminar will help the market to turn its table tomorrow.
Constructed and Written by Smartbiz (FBMKLCI Chart extracted from ChartNexus)
(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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