Daily Market Notes January 29, 2010
January 29, 2010 by dragon
PSEi 2,953.19 DOWN 8.44
value php 2,542,720,705.00
DOW 115.70 -1.13% 10,120.46
NASDAQ 42.41 -1.91% 2,179.00
S&P 500 12.97 -1.18% 1,084.53
The oversold technical rally setup was already there, but alas, it was not to be. Markets ignored good results from Amazon, Microsoft, Ford, Colgate Palmolive, JnJ, and decided to plunge over 1%.
Locally, the selloff was not too bad but NFS still prevailed. Leading the NFS were: EDC 115M, MBT 24M, JFC 29M, AC 27M, MPI 63M, MEG 32M, GLO 28M, TEL 40M, PX 19M,
A few stocks has NFB: FGEN 18M, FPH 76M, AGI 60M, BEL 12M, RLT 14M.
TEL was singlehandedly sticking out like a sore thumb with its 15 peso rise worth 4 psei points.
Some stocks were strong on this down day: ALCO .27 unchanged, but .24 low and .30 high, SMDC, killed at 4.80 at the open but broke out to close 5.2 with a lot of buyers. next resistance: 5.80 to 6 level. IMI also looking good with a bottoming out formation at 30 by closing high at 36 unchanged from yesterday.
TOTAL FOREIGN BUYING : P 963,961,791.25
TOTAL FOREIGN SELLING : P 1,156,288,230.75
NO. OF ADVANCES: 45
NO. OF DECLINES: 62
NO. OF UNCHANGED: 57
NO. OF TRADED ISSUES: 164
NO. OF TRADES: 7,910
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