Sentiment Index - Malaysia Stock Market

Constructed and Written by Smartbiz

Local sentiment followed regional markets opened in high notes as confident towards the progress of the eurozone debt crisis increased. Though optimism pared by profit taking but selling was well absorbed. The Oscillator slid but ended off low at +2,054.17; lost 322.19 when compares with its opening point. The Average recorded a gain of 1,678.46.

In MSCD, %K (Yellow) computed as +361.46 (+239.37), %D (Red) +182.68 (+119.71) and the Histogram +75.84 (+25.74).

Technical Analysis
After today’s trade, both indicators were shooting stars and the Histogram printed yet another longer bar in the positive area. Market sentiment took a clue from global situation staged a most ever strong sentiment since two months ago.

In MSCD, both %K and %D moved almost parallel towards the same direction but the gap has become narrower. It is opined that tomorrow would be a selling day due to a long holiday ahead. However, market euphoria will continue until %K fell and cut %D from its high.

(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)