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PSEi 8/8/08 WEEKLY MARKET REVIEW by Whipsaw

PRICE AND TURNOVER
Close: 2,692.81
Change: 8.17 0.30%
Value: 2,562,855,945

MARKET BREADTH
Net Advancing Issues: 19
Net Up Volume: 1,692,365,260
Net Foreign Buying: -179,607,158

TRENDS
* UNDEFINED PRIMARY TREND | Declining wave | Prior support 2289 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Broken trendline | Correctivel wave | Prior support 2289 | Prior resistance 2903
* SHORT TERM PROVISIONAL UPTREND | Directional wave| Prior support 2372 | Prior resistance 2507 broken

PSEi 6/27/08 WEEKLY REVIEW

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.

DJIA 06/26 Review

PRICE AND TURNOVER
Close 11346.51
Change -106.91(-0.93%)
Volume 976,217,280

MARKET BREADTH NYSE
Net Advancing Issues -827
Net New Highs -456
Net Up Volume -3,373,874,963

TRENDS
*PRIMARY PROVISIONAL DOWNTREND | Directional wave | Prior support 11634-Broken | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Directional wave | Prior Support 11731-Broken | Resistance 13136
*SHORT TERM DOWNTREND | Directional wave | Prior Support 12076 - Broken | Resistance 12320

TECHNICAL ANALYSIS
Major alarm bells sounded off this week, when the primary and intermediate support levels were breached in sweeping fashion. Trendwise, the index is marking new lows, meaning no relevant prior support levels remain which we can use to identfiy near term areas of potential buying interest. Historically though, the index is back to levels of 2006, a year when the market found major support at 10,683. The MACD shows the decline is gaining momentum.

PSEi WEEKLY REVIEW 6/20/08

PRICE AND TURNOVER
Close: 2,578.57
Change: -14.02(-0.54%)
Value: 2,248,899,110

MARKET BREADTH
Net Advancing Issues: -34
Net Up Volume: -1,033,523,710
Net Foreign Buying: 309,676,860

TRENDS
* UNDEFINED PRIMARY TREND | Broken UP trendline | Corrective wave | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Directional wave | Prior support 2510 | Prior resistance 2903
* SHORT TERM PROVISIONAL DOWNTREND | Directional wave | Prior support 2510| Prior resistance 2650

CHART WATCH
The index continues its short term and intermediate downtrend. Coming from an interrupted uptrend, the primary trend, although technically undefined, has been on a declining wave since Oct-2007. The next critical level is the prior support of 2510.

DJIA 6/20/08 WEEKLY REVIEW

PRICE AND TURNOVER
Close 11,842.69
Change -220.40 (1.83%)
Volume 1,051M

MARKET BREADTH NYSE
Net Advancing Issues -2136
Net New Highs -250
Net Up Volume 518,494,226

TRENDS
*PROVISIONAL PRIMARY DOWNTREND | Directional wave | Prior support 11634 | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Directional wave | Prior Support 11731 | Resistance 13136
*SHORT TERM DOWNTREND | Directional wave | Prior Support 12076 - Broken | Resistance 12320 | TP 11800
TECHNICAL ANALYSIS
The Dow continues to trend downward in all time frames. It is nearing the 11800 MMTP that we cited earlier.

PSEi 6/13/08 PHILIPPINE STOCK MARKET TECHNICAL ANALYSIS

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

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

DJIA 6/13/08 STOCK MARKET TECHNICAL ANALYSIS

PRICE AND TURNOVER
Close 12,307.35
Change 165.77 (1.37%)
Volume 846.9M

MARKET BREADTH NYSE
Net Advancing Issues +1534
Net New High -117
Net Up Volume +2,394,880,104

TRENDS
*PROVISIONAL PRIMARY DOWNTREND | Directional wave | Prior support 11634 | Prior resistance 13136
*INTERMEDIATE DOWNTREND | Broken trendline

| Directional wave | Prior Support 11731 | Resistance 13136
*SHORT TERM PROVISIONAL DOWNTREND | Directional wave | Prior support 12076 | Resistance 12610

PSEi May Weekly

TECHNICAL ANALYSIS

The index closes fractionally higher on Friday and ends the week up 2%. Year to date the average is behind by 23%. The intermediate and minor trends are still declining. It is attempting to find support within the smaller trend from which to launch a possible correction rally. For now the trends constrain us to expect the index to move in the current direction. The chart offerS the ff potential price objectives: short term 2630 | intermediate 2500 | major 1800.

MULTIPLE TIME FRAME ANALYSIS
* MAJOR CONSOLIDATION | Prior support 2272 | Prior resistance 3897 | Potential resistance (Fibo) 3159-3437 | Double top TP 1800 * INTERMEDIATE DOWNTREND | Potential support 2500 | Prior resistance 3051 | Measured move objective 2500 * MINOR DOWNTREND | Prior support 2712 | Resistance: Prior 2956, Trendline resistance, Retracement 50% 2833 | Measured move objective 2630 *

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