PSEi 6/27/08 WEEKLY REVIEW
28 June 2008
PRICE AND TURNOVER
Close: 2,466.28
Change: -55.33(-2.19%)
Value: 7,240,933,000
MARKET BREADTH
Net Advancing Issues: -73
Net Up Volume: 311,302,880
Net Foreign Buying: 4,774,440,891
TRENDS
* UNDEFINED PRIMARY TREND | Broken UP trendline | Corrective wave | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Directional wave | Prior support 2510 | Prior resistance 2903
* SHORT TERM DOWNTREND | Correctivewave | Prior support 2469 | Prior resistance 2650
CHART WATCH
The charts indubitably show the trends in diferent time frames declining and we should expect the index to continue to move in that general direction. The MACD vs price divergence appearing in the intermediate trend from Jan-May failed in early June when the MACD broke below the line drawn below the advancing troughs and subsequently realigned with the price decline.
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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