Asian shares were mixed Thursday, with the yen tumbling against its rivals and buoying Tokyo stocks after Japanese authorities intervened to weaken the currency. Most other regional equity markets were mixed in cautious trade after the recent heavy selloffs amid persistent concerns about the global economic outlook.
Local sentiment reversed into pessimism from initial optimism as the key index receded swiftly from its high. The Intra-day Oscillator fell into the red shortly after the break but last minute buying lifted it to end off low at +88.08; lost 752.78 when compares with its starting point. The Average recorded a gain of 318.88.
At the end of the day, %K(yellow) of MSCD recorded as -179.73 (+90.62), %D(red) -169.50 (+39.09) and the Histogram -17.78 (+1.89). Both indicators hooked up sharply and returned to the uptrend channel. The Histogram printed a shorter negative bar.
Though %D rebounded for the third time but obviously, overall market sentiment is progressing in a very bad track. The fact that both indicators have failed to return to the positive level but moving in downtrend again after a more than six-month trial is also a sign of warning.
A lot of investors should be waiting to lighten their holdings.
Note: Dow Jones tumbled 512 points last night.
Local sentiment reversed into pessimism from initial optimism as the key index receded swiftly from its high. The Intra-day Oscillator fell into the red shortly after the break but last minute buying lifted it to end off low at +88.08; lost 752.78 when compares with its starting point. The Average recorded a gain of 318.88.
At the end of the day, %K(yellow) of MSCD recorded as -179.73 (+90.62), %D(red) -169.50 (+39.09) and the Histogram -17.78 (+1.89). Both indicators hooked up sharply and returned to the uptrend channel. The Histogram printed a shorter negative bar.
Though %D rebounded for the third time but obviously, overall market sentiment is progressing in a very bad track. The fact that both indicators have failed to return to the positive level but moving in downtrend again after a more than six-month trial is also a sign of warning.
A lot of investors should be waiting to lighten their holdings.
Note: Dow Jones tumbled 512 points last night.
Constructed and Written by Smartbiz
(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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