Local sentiment progressed in pure pessimism as regional markets crashed on Greece worries. The Intraday Sentiment Oscillator slid deeper into the red after the break as selling accelerated in high volume. The Oscillator ended at -2,151.27; lost 1,738.15 when compares with its opening point. The Average recorded a loss of 1,313.30.In MSCD, %K (Yellow) computed as -591.82 (-131.13), %D (Red) -414.52 (-71.93), %A (Pink) -308.11 (-37.93) and the Histogram -55.73 (-30.39).
After today’s market, all line indicators fell deeper and the Histogram printed yet another long negative bar. The gaps between all line indicators were grossly enlarged.
Asian markets staged a mini crash today with Hang Seng lost more than 3% at the end of the day. In such premise, our market would have no way to stay immune. Market sentiment will progress in bearish path for a long time until light is seen on the European crisis and confidence returns.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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