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, August 19, 2008

PSEi 8/15/08 WEEKLY MARKET REVIEW


PRICE AND TURNOVER
Close: 2,725.15
Change: -2.13 -0.08%
Value: 2,587,158,000

MARKET BREADTH
Net Advancing Issues: -20
Net Up Volume: -1,445,688,430
Net Foreign Buying: -201,701,074

TRENDS
* PRIMARY DOWNTREND | Corrective wave | Prior support 2289 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Broken trendline | Correctivel wave | Prior support 2289 | Prior resistance 2903
* SHORT TERM PROVISIONAL UPTREND | Corrective wave| Prior support 2372 | Prior resistance 2778

CHART WATCH
For now, the critical level to look out for is 2903. A break above this level will be encouraging for a potential reversal of the intermediate trend.

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