This blog is committed to the serious study and valid understanding of technical analysis and its objective application to stock selection, risk management and execution primarily in the context of trading stocks listed in the Philippine Stock Exchange (PSE).

Wednesday, January 9, 2008

PSE MARKET REVIEW, 1/8/08

PSEi-3383-3422-3380-3420 ... the market manages to close flat (+0.9%) ... but individual stocks are clearly suffering ... broken support: COL, COAT, MBT, MEG .. consolidation patterns that broke to the downside: COL, GLO, COAT .. faded and stalled upside breakouts: DGTL and OV .. ugliest looking chart so far: still AC... gold closes @ 880.3 this could be a catalyst for PX keep an eye out ... 2 stocks in an uptrend: MWC and ICT .. my overall sentiment remains bearish due to a downtrending market .. good luck !

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