PSEi 6/13/08 PHILIPPINE STOCK MARKET TECHNICAL ANALYSIS
17 June 2008
PRICE AND TURNOVER
Close: 2,554.75
Change: 9.86(0.39%)
Value: 2,719,993,000
MARKET BREADTH
Net Advancing Issues: 15
Net Up Volume: -639,781,870
Net Foreign Buying: -599,240,543
TRENDS
* MAJOR UPTREND | Broken trendline | Corrective wave | Prior support 2034 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Directional wave | No relevant prior support | Prior resistance 2903
* SHORT TERM PROVISIONAL DOWNTREND | Downswing | No relevant prior support | Prior resistance 2868
The local index is in a clear downtrend and there are no indications that the directional tendency is about to change. One should not initiate long positions except for individual stocks that are trending contrary to the broad market.
Copyright (c) Whipsaw 2008. All rights reserved. Whipsaw Blog is open by invitation only. DISCLAIMER. Posts appearing in this blog are solely intended for the study, research, and practical application of technical analysis and do not constitute recommendations or solicitations to invest or trade in specific stock securities. The author does not guarantee the accuracy of the charts and the underlying data
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