Local market was seen more improving as regional markets tracked overnight advances for U.S. stocks. The Intraday Sentiment Oscillator opened in positive mood but ended lower at +475.24; lost 156.11 when compares with its opening point. The Average recorded a gain of 438.61.In MSCD, %K (Yellow) computed as -338.20 (+141.19), %D (Red) -329.23 (+61.45), %A (Pink) -279.97 (+27.11) and the Histogram -66.28 (+14.33).
After today’s market, all line indicators continue to move upwards and the Histogram printed a shorter negative bar. %K advances nearer to %D and about to return to the wedge pattern channel.
Market sentiment continues to progress positively but total volume remains below one billion shares. The improvement for the last two sessions can only be considered as a technical correction after a heavy sell-down. More reactions from investor are needed to confirm the actual market situation.
Meantime, chart show market base is still weak.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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