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).

Friday, October 3, 2008

PSEi 10/2/08

PRICE AND TURNOVER
Close: 2,612.89
Change: 43.24 1.68%
Value: 3,148,974,000

MARKET BREADTH
Net Advancing Issues: 28
Net Up Volume: 15,703,820
Net Foreign Buying: 87,144,074

TRENDS
* PRIMARY DOWNTREND | Downleg | Prior support 2289 | Prior resistance 3896
* INTERMEDIATE CONSOLIDATION | Prior support 2289 | Prior resistance 2755
* SHORT TERM DOWNTREND | Correction | Prior support 2342 | Prior resistance 2755

CHART WATCH
The primary and the minor trends continue to decline. The intermediate trend appears to flatline but for now, it is likely that this is merely a countertrend correction to the primary trend and will eventually resume its decline.

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