Local sentiment reversed into negative tone again as regional markets continued to be weighed by the euro zone fear. Among which, Hong Kong and Japanese markets both lost more than 2% at closing. The Intraday Sentiment Oscillator of local market soaked in the red for the whole session to end at -1,316.41; lost 159.68 when compares with its opening point. The Average recorded a loss of 1,239.98.In MSCD, %K (Yellow) computed as -566.41 (-122.42), %D (Red) -421.90 (-65.47), %A (Pink) -318.33 (-34.78) and the Histogram -78.58 (-16.48).
After today’s market, all line indicators returned most of their gains from yesterday and reversed downwards. The Histogram printed yet another negative bar.
Market sentiment will progress in gross pessimism as the Histogram hasn’t shown any improvement yet and %K seems hasn’t found its bottom also. Meantime, any gain will invite profit taking.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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