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, June 19, 2008

PSEi 6/19/08

PRICE AND TURNOVER
Close: 2,592.59
Change: -35.61(-1.35%)
Value: 2,614,855,000

MARKET BREADTH
Net Advancing Issues: -88
Net Up Volume: -1,781,912,770
Net Foreign Buying: 54,573,608

TRENDS
* MAJOR UPTREND | Broken trendline | Corrective wave | Prior support 2034 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Directional wave | Prior resistance 2903
* SHORT TERM DOWNTREND | Corrective wave | Prior support 2510| Prior resistance 2650

CHART WATCH
Today's gap down and lower close confirms a new resistance level was reached Jun-17 at 2650. The index has resumed its decline after a 3-day correction rally. The next key level is the prior support of 2510.

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