Local sentiment reversed into negative tone as Asia markets sank Thursday on fresh worries about Spain and Italy. The Intraday Sentiment Oscillator opened deep in the red but, again, last minute buying pulled it to end at its day-high at -88.10; gained 438.38 when compares with its opening point. The Average recorded a loss of 322.53.
In MSCD, %K (Yellow) computed as -148.32 (-31.66), %D (Red) -214.80 (-8.62), %A (Pink) -229.28 (-3.52) and the Histogram +37.90 (+7.15).
All line indicators hook slightly down after today’s trade but the Histogram printed yet another positive bar.
As both %K and %D are still staying above their trigger points, the positive mood is considered intact. The persistent last minute accumulation helps to support the market. It is also a sign of investor’s confidence in the market amid so many external disturbances.