Local sentiment improved significantly after the break as regional markets rose on hope of China’s new stimulus plan. The Intraday Sentiment Oscillator surged to end at its day-high at +222.47; gained 256.87 when compares with its opening point. The Average recorded a gain of 17.33.In MSCD, %K (Yellow) computed as -138.13 (+28.25), %D (Red) -222.80 (+19.22), %A (Pink) -234.00 (+9.48) and the Histogram +16.05 (+17.16).
All line indicators continue to move higher and %D breaks through %A. The Histogram completed its bottom-rounding process and printed its first positive bar.
The persistent last hour buying for several sessions has lifted the chart to stay in good shape. However, volume is still very low when compares with the 40-Day Average. Though %D cuts %A after today’s market but is not decisive enough. By tomorrow, we should be able to have clearer indication from the chart.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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