Local sentiment continued to subside as Asian market hit by concern of banks earnings after JP Morgan made a loss report. The Intraday Sentiment Oscillator fell deep into the red to end at -601.01; lost 263.36 when compares with its opening point. The Average recorded a loss of 623.88.
In MSCD, %K (Yellow) computed as -255.09 (-67.03), %D (Red) -239.00 (-30.80), %A (Pink) -217.76 (-15.32) and the Histogram +8.629 (-6.18).
After today’s market, both key indicators faced downwards again and the Histogram printed its first shorter positive bar.
Market sentiment followed regional markets swaying up and down but the trend is going south. This is confirmed by %K which has failed to sustain its position above %D. Market should continue to be weak until %K tested its support again.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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