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, October 13, 2008

PSEi 10/10/08 WEEKLY MARKET REVIEW


PRICE AND TURNOVER
Close: 2,097.80
Change: -190.64 -8.33%
Value: 3,025,688,000

MARKET BREADTH
Net Advancing Issues: -128
Net Up Volume: -1,414,073,300
Net Foreign Buying: -942,870,457

TRENDS
* PRIMARY DOWNTREND | Prior support 2289 | Prior resistance 2755
* INTERMEDIATE DOWNTREND| Prior support 2342-BROKEN | Prior resistance 2755
* SHORT TERM DOWNTREND | Prior support 2342-BROKEN | Prior resistance 2627

CHART WATCH
Cumulative NFS continues to set new YTD high. Now at 31B. The oversold RSI level alerts us to a potential near term correction rally.

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