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Thursday, December 27, 2012

Sentiment Index - Malaysia Stock Market

Constructed and written by Smartbiz 


Intraday Oscillator: Local sentiment remained subdue as buyer failed to boost the market. The Oscillator was seen losing strength but last minute buying boosted it to finish at day-high at +168.25; gained 34.06 compared to its opening point at +134.18 The Average recorded as +60.18; gained 66.84 compared to -6.66 of the previous session.

MSCD: After today’s market, %K edged higher and the Histogram printed a longer bar in the positive zone.

MSCD data are appended as below:
<
DATEA_OSC%K%D%AHGM
12/20/2012-18.18-40.95-68.84-84.2424.16
12/21/2012-120.39-53.17-72.66-85.5523.22
12/24/2012-43.09-51.62-70.47-84.0122.35
12/26/2012-6.66-44.71-65.74-81.2022.09
12/27/201260.18-28.57-56.41-76.0623.24
LAST+-66.8416.139.335.141.15


Analysis: Market sentiment gradually picked up while drawing nearer to year-end. Window-dressing was seen on small-caps but not the ACE counters yet.

OSK wrote today, "...the index is likely to trade higher ... The next resistance is now at the psychological 1,700 pts. Failure to stay above 1,675 pts, followed by a close below 19 Dec’s low of 1,664 pts, however, suggests that selling could return. "

Today, FBMKLCI gained 2.58 pt to close at 1,674.16.

U.S. stocks faltered Wednesday as political wrangling over the fiscal cliff continued to dominate investor sentiment.

The bears have become increasingly convinced that Washington will fail to resolve a self-inflicted crisis that could tip the economy into recession. Those in the middle are betting on a short-term compromise that prevents the worst and delays more difficult decisions to later in the year.

In a sign of continued improvement in the housing market, home prices rose at an annual rate of 4.3% in October, according to the S&P/Case-Shiller home price index. It was the biggest rise in home prices in more than 2 years and topped analysts' expectations.

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


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