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).

Monday, July 7, 2008

PSEi 7/4/08 WEEKLY REVIEW


PRICE AND TURNOVER
Close: 2,369.21
Change: 23.53(1.00%)
Value: 1,882,533,790

MARKET BREADTH
Net Advancing Issues: -79
Net Up Volume: 55,880,000
Net Foreign Buying: -236,769,204

TRENDS
* UNDEFINED PRIMARY TREND | Broken UP trendline | Corrective wave | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Directional wave | Prior support 2510 | Prior resistance 2903
* SHORT TERM DOWNTREND | Directional wave| Prior support 2469 | Prior resistance 2543

CHART WATCH
The index ends the week higher, pausing after a 5 day downswing. All the important trends are moving lower.

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