Sentiment Index - Malaysia Stock Market

Constructed and written by Smartbiz 

Intraday Oscillator: Local sentiment was strengthless as the major index continued its downside journey today. The Oscillator slid to end at -386.56, lost 216.62 compared to its opening point at -169.94. The Average recorded as -329.98; lost 125.02 compared to -204.96 of the previous session.

MSCD: After today’s market, %K fell sharply and the Histogram printed its first longer bar in the negative zone.

MSCD data are appended as below:
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DATE	A_OSC	%K	%D	%A	HGM
11/19/2012	-117.15	-135.04	-112.20	-103.50	-23.94
11/20/2012	-5.84	-115.17	-104.32	-99.95	-21.32
11/21/2012	-130.35	-117.51	-106.25	-101.05	-19.31
11/22/2012	-204.96	-130.96	-113.56	-104.83	-18.93
11/23/2012	-329.98	-161.57	-129.60	-113.02	-21.53
LAST+-	-125.02	-30.61	-16.04	-8.19	-2.61

Analysis: MSCD shows market sentiment reversed into deep bearishness after failing to perk up in several attempts. The key index continued to suffer across-the-board selling but ACE counters defied the trend with mild support.

OSK said the FBM KLCI, which has printed 13 black candles in a row and dropped 55 pts, showed no signs of reversal. Nevertheless, the retracement is still considered insignificant compared with the 369-pt gain from Sept 2011’s low and the 1,679-pt historic high. Meanwhile, the market has erased all the gains recorded last month but this pullback is still considered healthy.

Note: Explanation on MSCD can be found under "Label" at the sidebar.