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).

Thursday, January 31, 2008

PSEi, 1/31/08

PRICE AND VOLUME
Close: 3,266.00
Change: +9.47 (+0.3%)
Value turnover: 4,890,036,000

MARKET BREADTH
Net adv/dec issues: -55
Net up/down volume: -396,075,610
NFB: +595,463,653

The index barely advances to manage a 3rd consecutive higher close. Today's trading range sets up the previous day as a possible reaction high suggesting the onset of a downswing. A lower close and lower low tomorrow will confirm this. Market breadth continues to diverge from the advance of the index although NFB is positive for 2 successive days.

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