Malaysia Stock Market - Sentiment Index

Asian stock markets tumbled today, deepening sharp losses over the previous two sessions brought on by the historic US credit downgrade and the debt crisis in Europe. However, losses were not as steep as earlier in the day amid hopes that the panic-selling was easing.

Local sentiment continued to progress in deep skeptic initially but gradually recovered as regional losses had alleviated. The Intra-day Oscillator crawled upwards to finish at -2,827.77; gained 3,035.72 when compares with its starting point. However, the Average still recorded a deep loss of 3,439.95 due to initial selling.

At the end of the day, %K(yellow) of MSCD recorded as -1,639.68 (-327.20), %D(red) -939.66 (-200.10) and the Histogram -281.26 (-104.69).

Both indicators fell deeper and the Histogram printed a longer negative bar.

Conclusion

Market sentiment continued to progress in jittery but buying support eased the freefall.

Though market was hugely oversold it is not advisable to set sail for the deep sea yet as global situation especially the effect of the downgrade of US debt status remains unknown. May be doing some coastal fishing – sail at dawn and back before sunset – should be safer.

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.)