Sentiment Index - Malaysia Stock Market

Constructed and written by Smartbiz

Local sentiment slumped in deep depression as FKLCI lost another 14 points today. The whole world was fretted by the possibility of a Greek exit from the euro zone. The Intraday Sentiment Oscillator plummeted into deep red at opening and slid to end at -1,204.57; lost 394.33 when compares with its opening point. The Average recorded a loss of 1,270.61.

In MSCD, %K (Yellow) computed as -460.69 (-147.21), %D (Red) -342.59 (-74.27), %A (Pink) -270.65 (-37.73) and the Histogram -25.34 (-23.19).

After today’s market, all line indicators fell sharply and the Histogram printed a longer negative bar. As expected, %K fell off from the support and the uptrend channel was violated.

No doubt market sentiment has sunk into deep pessimism but it is a relief to note that selling was not intensive though extensive, today. Instead, some nibbling was seen before the closing bell. Though sentiment might not be recovering from here but selling pressure should be alleviated.

We are waiting for %K to curve up and break %D to mark the initial recovery. But, for this time, it might take longer.

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