Asian markets were lower Thursday, as investors remained jittery, with persistent concerns about the yen hurting Tokyo shares while technology shares tumbled in Seoul amid concerns about their outlook.
“The rebound in shares following the recent sharp selloff continues to be limited since the broader global (economic) environment continues to be highly uncertain,” said Tokyo-based Yoshinori Nagano, a senior strategist at Daiwa Asset Management.
Local sentiment turned cautious with seller overwhelmed buyer. The Intra-day Oscillator slid deeper into the red after the break but finished off low at -341.09; lost 267.06 when compares with its starting point. The Average recorded a loss of 255.08.
At the end of the day, %K(yellow) of MSCD recorded as -292.07 (+6.72), %D(red) -392.61 (+11.01) and the Histogram -67.94 (+42.12).
Both indicators lost strength before touching the resistance line but the Histogram printed yet another shorter negative bar.
Conclusion
Market sentiment turned cautious in declining volume yesterday. Buying support receded as shown by the indicators.
Jittery and worry will overrule the market again due to the overnight slump of the US market. However, selling will not be intensive and good earning report counters will buck the trend.
(Morning Flash: Dow Jones tumbled 419 points last night)
“The rebound in shares following the recent sharp selloff continues to be limited since the broader global (economic) environment continues to be highly uncertain,” said Tokyo-based Yoshinori Nagano, a senior strategist at Daiwa Asset Management.
Local sentiment turned cautious with seller overwhelmed buyer. The Intra-day Oscillator slid deeper into the red after the break but finished off low at -341.09; lost 267.06 when compares with its starting point. The Average recorded a loss of 255.08.
At the end of the day, %K(yellow) of MSCD recorded as -292.07 (+6.72), %D(red) -392.61 (+11.01) and the Histogram -67.94 (+42.12).
Both indicators lost strength before touching the resistance line but the Histogram printed yet another shorter negative bar.
Conclusion
Market sentiment turned cautious in declining volume yesterday. Buying support receded as shown by the indicators.
Jittery and worry will overrule the market again due to the overnight slump of the US market. However, selling will not be intensive and good earning report counters will buck the trend.
(Morning Flash: Dow Jones tumbled 419 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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