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Thursday, October 20, 2011

Sentiment Index - Malaysia Stock Market

Constructed and Written by Smartbiz

Asian markets fell Thursday on lingering eurozone debt fears and following losses on Wall Street as the Federal Reserve warned that the US economy was still weak. (WSJ)

Market Sentiment
Market sentiment turned scary again on regional losses. The Intra-day Oscillator lost over 1,000 points but last hour buying pulled it to end at -781.49; lost 570.65 when compares with its starting point. The Average recorded a loss of 831.11.

At the end of the day, %K (Yellow) of MSCD computed as +171.36 (-182.20), %D (Red) +88.94 (-73.63) and the Histogram +154.26 (-17.96).

Both indicators hooked down. The Histogram printed another shorter bar above the positive level.

Local sentiment lost direction and followed regional markets swaying up and down in the past few days.

Based on MSCD, market sentiment would fall into pessimistic stage once %K fell below the projected support line. This is also true as the Histogram continues to progress its round topping process.

Key Index
(Chart posted with courtesy of ChartNexus)
FBMKLCI fell off from the support line but rested on the 30EMA today. Its next strong support will be 1,403 which is also its 20MA.

(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)

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