Local sentiment turned cautious as Asian stocks retreated on Spain financial woes again. The Intraday Sentiment Oscillator was lingering in tight range most of the day but late buying pushed it to end at its day-high at +421.79; gained 329.76 when compares with its opening point. The Average recorded a gain of 147.05.In MSCD, %K (Yellow) computed as +71.91 (+13.66), %D (Red) -40.26 (+14.99), %A (Pink) -126.49 (+10.32) and the Histogram +85.74 (+6.61).
After today’s trade, all line indicators edged slightly higher and the Histogram continued to print longer positive bar.
Conclusion : Investors applied conservative strategy and buy mostly Consumer Product counters today. However, some lives were seen in low-liners also as traders started to nib on news-driven counters.
In MSCD, if %D can follow %D to crawl into the positive zone will further strengthen the market base.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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