Constructed and Written by SmartbizLocal sentiment lost strength again shortly after opening at the backdrop of a weaker Regional Market. The Oscillator slid deep into the red to end at -1,057.18; lost 1,387.03 when compares with its opening point. The Average recorded a loss of 956.04.
In MSCD, %K (Yellow) computed as -315.41 (-116.44), %D (Red) -269.68 (-54.93) and the Histogram -19.97 (-6.44).
After today’s trade, both indicators fell sharply and the Histogram printed its first longer bar in the negative zone.
Market sentiment has slumped into an uncertain situation as %K fell slightly below the support and the Histogram failed to complete its round-bottoming process. The indication is true that most of the active counters were losers today. The euphoria was tripped by worry of China’s growth which has direct influence in many countries development.
Fortunately, selling was extensive but not intensive, judging from market volume. Monday’s market will give us more clue to decide.
(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)
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