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, July 8, 2008

PSEi 7/8/08

PRICE AND TURNOVER
Close: 2,450.55
Change: 35.89(1.49%)
Value: 2,910,316,000

MARKET BREADTH
Net Advancing Issues: 11
Net Up Volume: 323,028,200
Net Foreign Buying: -686,791,197

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 | Corrective wave| Prior support 2289 | Prior resistance
2650

CHART WATCH
The PSEi is on the 3rd day of a technical rally. It is likely that the index will shortly encounter resistance and resume the directional wave of the minor trend.

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