Translate This Page

Saturday, August 27, 2011

Malaysia Stock Market - Sentiment Index

Asian share markets were mixed while currencies were range bound Friday, as investors avoided large bets ahead of Federal Reserve Chairman Ben Bernanke's closely watched speech at Jackson Hole, Wyoming, later in the day.

"This may be the calm before the storm—although most market players don't expect U.S. Fed Chairman Ben Bernanke to introduce aggressive monetary easing measures tonight, investors will nevertheless be disappointed if he does nothing at all," said Hisatsune Kobayashi, general manager of global investment strategy at SMBC Nikko Securities.

Local sentiment progressed from bad to worse with the Intra-day Oscillator stayed deep in the red for the whole day to finish at -1,016.48; lost 437.41 when compares with its starting point. The Average recorded a loss of 938.64.

At the end of the day, %K(yellow) of MSCD recorded as -440.10 (-90.61), %D(red) -442.94 (-39.67) and the Histogram +4.51 (-0.42).

Both indicators hooked down and the Histogram printed a shorter bar above the zero level.


%K in MSCD failed to penetrate the resistance line but facing down again after Friday’s trade. As expected, market sentiment would turn weaker due to the fragile base that built for the last two weeks. Sentiment is seen volatile with more downside bias and will only recover when leading markets have stabilized.

FBMKLCI fell below its temporary support around 1,456 yesterday and closed at 1,444.81. Its next support is around 1,440. The downside trajectory should be slower now.

(Morning Flash: Dow Jones gained 134 points last night)

Constructed and Written by Smartbiz (Chart of FBMKLCI extracted from ChartNexus)

(Note: The explanation for Intra-Day MSO and MSCD were archived under heading "Labels" at the lower portion of the sidebar.)

1 comment:

henilketty said...

Sentiment is apparent airy with added downside bent and will alone balance if arch markets accept stabilized.