OUTLOOK
The local stock market closes 2.32% lower for the day and 4.72% for the week. So far if youve been invested in the PSEi since the beginning of the year and are still holding, you've lost close to one fourth of your stock portfolio value. Anyway, net foreign selling continues to accelerate. The foreign funds are falling all over the place trying to beat everyone else to the door. This week over 3B in foreign funds flowed out of the stock market bringing the year to date figure to a record high of 20B. The charts issue no significant technical signal today. The trends remain valid.
PRICE AND TURNOVER
Close: EOD 2,777.93 * EOPW 2,915.67 * EOPM 2,984.67 * EPOY 3,612.98
Change: TODAY -66.09(-2.32%) * WTD -137.74(-4.72%) * MTD -206.74(-6.93%) * YTD -835.05(-23.11%)
Value: 1,851,282,000
MARKET BREADTH
Net Adv Issues: -53
Net Up Volume: 276,251,820
Net Foreign Buying: TODAY -588,539,580 * WTD -3,313,468,120 * MTD -4,351,104,926 * YTD -20,171,808,894
TECHNICAL ANALYSIS
Major consolidation * Intermediate downtrend * Short term downtrend * Support 2750 * Resistance 3050 * Double top in the weekly chart
The local stock market closes 2.32% lower for the day and 4.72% for the week. So far if youve been invested in the PSEi since the beginning of the year and are still holding, you've lost close to one fourth of your stock portfolio value. Anyway, net foreign selling continues to accelerate. The foreign funds are falling all over the place trying to beat everyone else to the door. This week over 3B in foreign funds flowed out of the stock market bringing the year to date figure to a record high of 20B. The charts issue no significant technical signal today. The trends remain valid.
PRICE AND TURNOVER
Close: EOD 2,777.93 * EOPW 2,915.67 * EOPM 2,984.67 * EPOY 3,612.98
Change: TODAY -66.09(-2.32%) * WTD -137.74(-4.72%) * MTD -206.74(-6.93%) * YTD -835.05(-23.11%)
Value: 1,851,282,000
MARKET BREADTH
Net Adv Issues: -53
Net Up Volume: 276,251,820
Net Foreign Buying: TODAY -588,539,580 * WTD -3,313,468,120 * MTD -4,351,104,926 * YTD -20,171,808,894
TECHNICAL ANALYSIS
Major consolidation * Intermediate downtrend * Short term downtrend * Support 2750 * Resistance 3050 * Double top in the weekly chart
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