Sentiment Index - Malaysian Stock Market

Constructed and Written by Smartbiz

Asian markets ended mixed after choppy trade Wednesday despite Wall Street’s final-hour rally Tuesday, as caution over the euro-zone debt crisis persisted, while Apple-related plays around the region sold off as the new iPhone model underwhelmed.

“The market is going to treat this (U.S.) rally with suspicion because there’s no detailed plan (to contain the European debt crisis) yet,” said BBY senior institutional trader Peter Copeland in Sydney. “Many investors remain sidelined and are unlikely to return until there is a solid footing to the market.” (WSJ)

Market Sentiment

Local sentiment motivated by US market’s overnight gain turned optimistic but cautiousness remains. The Intra-day Oscillator picked up from its low to finish at +292.13; lost 107.55 when compares with its starting point. The Average recorded a gain of 217.18.

At the end of the day, %K (Yellow) of MSCD recorded as -103.22 (+58.23), %D (Red) -182.87 (+32.02) and the Histogram +47.56 (+8.02).

Both indicators edged higher and %K rested exactly on the new resistance line. The Histogram printed another longer bar above the zero level.

There is no confirmation from MSCD. Market sentiment will remain choppy and tepid.

Key Index
(Chart posted with courtesy of ChartNexus)

FBMKLCI gained about 14 points today but failed to break through the 12EMA. The index must break through 12EMA and then 20MA to show its actual strength. Meanwhile, it’s just one of the followers of the US market.

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