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).

Friday, July 18, 2008

PSEi 7/17/08

PRICE AND TURNOVER
Close: 2,393.62
Change: 19.92(0.84%)
Value: 1,782,247,000

MARKET BREADTH
Net Advancing Issues: -11
Net Up Volume: -74,691,100
Net Foreign Buying: -63,128,445

TRENDS
* UNDEFINED PRIMARY TREND | Declining wave | Prior support 2034 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Directional wave | Prior support 2289 | Prior resistance 2903
* SHORT TERM DOWNTREND | Directional wave| Prior support 2289 | Prior resistance 2507

CHART WATCH
The PSEi closes higher but the inside day, the downtick, the negative market breadth, and below average turnover betrays the lack of momentum of today's move.

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