Local sentiment turned positive today as Asian stocks rose sharply on news Spain would seek a bailout for its banks. The Intraday Sentiment Oscillator ended at +254.57; gained 18.87 when compares with its opening point. The Average recorded a gain of 162.21.In MSCD, %K (Yellow) computed as -35.65 (+35.96), %D (Red) -129.03 (+23.31), %A (Pink) -180.46 (+12.93) and the Histogram +65.83 (+6.89).
After today’s trade, all line indicators edged higher and the Histogram printed another longer positive bar.
Analysis: Market sentiment advances slowly in positive mood as %K printed yet another higher-high. Market has gradually built up a good base after falling from the cliff during end of February. Since then, all line indicators stayed firmly in the uptrend channel even suffered a huge depress during mid-May.
Due to the consistent last minute accumulation, %K is going to crawl back to the positive zone. By then, more participation will be seen.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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