Local sentiment opened in strong mood as Asian stocks extending gains made in the previous session on hope of new stimulus. But, sentiment retreated gradually with the Intraday Sentiment Oscillator slid to end at +230.98; lost 554.54 when compares with its opening point. The Average recorded a gain of 347.30.In MSCD, %K (Yellow) computed as -56.97 (+73.48), %D (Red) -152.35 (+39.99), %A (Pink) -195.00 (+20.46) and the Histogram +53.49 (+10.47).
After today’s trade, all line indicators moved higher and the Histogram printed yet another longer positive bar.
Market sentiment advances in positive mood but cautiousness remains. As %K has broken out from the wedge pattern and staged a higher-higher, sentiment should be more resilient to any adverse effect hereafter.
Market sentiment has recovered from the recent slaughter but a rally can only be considered after %K hopped into the positive zone.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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