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).

Tuesday, February 26, 2008

PSEi 2/26/08 TECHNICAL ANALYSIS


PRICE AND TURNOVER
Close: 3,079.54
Change: -0.70 (-0.02%)
Value: 2,871,704,000

MARKET BREADTH
Net adv/dec issues: -61
Net up/down volume: -1,274,078,740
Net foreign buying: +99,901,597

OUTLOOK
The market closes almost flat. This is the 4th day in a row that the PSEi closes lower and on a downtick. For the last 10 days the market advances twice and ends on an uptick in only just as many days. The intermediate and short term trends are both declining. In the absence of any evidence to the contrary, we can only expect the downtrend to continue.

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