PRICE AND TURNOVER
Close: 2,536.16
Change: -109.96 -4.16%
Value: 1,910,846,000
MARKET BREADTH
Net Advancing Issues: -81
Net Up Volume: -83,756,450
Net Foreign Buying: -840,321,284
TRENDS
* PRIMARY DOWNTREND | Directional wave | Prior support 2289 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Broken trendline | Directional wave | Prior support 2289 | Prior resistance 2903
* SHORT TERM DOWNTREND | Directional wave | Prior support 2632-BROKEN | Prior resistance 2755
CHART WATCH
The failure swing in the minor uptrend evolves into a reversal when the index breaks the prior support of 2632 and in the process ensures a lower low subsequent to the lower high exhibited early September - a new downtrend. This declining price action is accompanied by new YTD highs of net foreign selling that today stands at 24.7B. All of the PSEi's 3 important trends are now headed south finally succumbing to the Dow's influence which exhibited a similar move very recently. Did i hear anybody say decoupling?
Close: 2,536.16
Change: -109.96 -4.16%
Value: 1,910,846,000
MARKET BREADTH
Net Advancing Issues: -81
Net Up Volume: -83,756,450
Net Foreign Buying: -840,321,284
TRENDS
* PRIMARY DOWNTREND | Directional wave | Prior support 2289 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Broken trendline | Directional wave | Prior support 2289 | Prior resistance 2903
* SHORT TERM DOWNTREND | Directional wave | Prior support 2632-BROKEN | Prior resistance 2755
CHART WATCH
The failure swing in the minor uptrend evolves into a reversal when the index breaks the prior support of 2632 and in the process ensures a lower low subsequent to the lower high exhibited early September - a new downtrend. This declining price action is accompanied by new YTD highs of net foreign selling that today stands at 24.7B. All of the PSEi's 3 important trends are now headed south finally succumbing to the Dow's influence which exhibited a similar move very recently. Did i hear anybody say decoupling?
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