Asian shares dropped sharply Thursday, pushing Hong Kong's Hang Seng Index to a two-year low and sending Indonesia's benchmark index down 6.1%, after the U.S. Federal Reserve gave a gloomy prognosis for the economy and a China manufacturing index fell.
Local sentiment subsided deeply from opening as almost all regional markets were under slaughtering. The Intra-day Oscillator slid downhill to finish at -1,397.04; lost 1,089.93 when compares with its starting point. The Average recorded a loss of 909.01.
At the end of the day, %K (Yellow) of MSCD recorded as -275.86 (-115.08), %D (Red) -271.31 (-51.04) and the Histogram +56.47 (-15.26).
Both indicators fell sharply and %K met %D. The Histogram printed another shorter bar.
Key Index
FBMKLCI fell below the 1,400 level and will proceed to test its next support around 1,370 as Dow Jones plunged another 391 points last night. Nobody can tell precisely where the bottom is, at this critical stage.
Conclusion
The continuous falling in big gap of Dow Jones will scare away more investors. Market sentiment will deteriorate further as %K will sink underneath %D with no exception.
(Morning Flash: Dow Jones tumbled by 391 points, last night)
Local sentiment subsided deeply from opening as almost all regional markets were under slaughtering. The Intra-day Oscillator slid downhill to finish at -1,397.04; lost 1,089.93 when compares with its starting point. The Average recorded a loss of 909.01.
At the end of the day, %K (Yellow) of MSCD recorded as -275.86 (-115.08), %D (Red) -271.31 (-51.04) and the Histogram +56.47 (-15.26).
Both indicators fell sharply and %K met %D. The Histogram printed another shorter bar. Key Index
FBMKLCI fell below the 1,400 level and will proceed to test its next support around 1,370 as Dow Jones plunged another 391 points last night. Nobody can tell precisely where the bottom is, at this critical stage.
Conclusion
The continuous falling in big gap of Dow Jones will scare away more investors. Market sentiment will deteriorate further as %K will sink underneath %D with no exception.
(Morning Flash: Dow Jones tumbled by 391 points, last night)
Constructed and Written by Smartbiz (Chart of FBMKLCI extracted from ChartNexus)
(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)
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