I just attended a seminar a while back with regards to DiNapoli, by Mr GodFather of Fibonacci Techniques (hehe nag mano ako..)

Sibukan ko sa PSEi..

* Contracted Objective Point (1st target) : 2540 <-- hit on May 2006 and around Sept 2006
* Objective Point (2nd target) : 2990-3000 <-- done deal, Jan 2007


Now, the final target and this i think where PSEi will hit before it goes down:

* Extended Objective Point ( 3rd target ) : 3700 to 3718 lvl

so after 3700++, dito na siguro cya pupulutin..

# First retrace level from 3718 high: 2677 to 2700 area <-- buy back opportunity?
# Second retrace level from 3718 high: 2040 level.

ala to mga sir praktis lang..

censya na sa chart, busit tong AmiBroker eh...di tumama mga presyo based sa calculator ko...

ang cute naman...

si bukojoe na dating fundie ngayon chartie na

Guys here is how i see PSEi just check out the chart

Hi Voiyong, Whats your TA on our phisix? In the coming days and weeks.

QUOTE:
Hi Voiyong, Whats your TA on our phisix? In the coming days and weeks.

Hi MRSY

Well 1st of all what I can only give you is what i see from the chart. Im sure alot of people out there with much greater experience of the market are in better possition to answer your concern about the future of PSE.

Anyways, let me try to answer your question:

1st observation:

All Asian Market, including US are in the rebound phase in reaction to the big fall of all Indeces around the world last week.

Reaction: PSE will also rebound for a couple of days to test its previous support, which is now the resistance. The previous support Im referring to is the support inside the UPWARD CHANNEL from June 2006 to Feb of 07, more specifically at 3160 as of the moment.

2nd Observation:

After the rally, after the buy demand of share by the bargain hunter and tsupiteros is over, those supply, including the "ipits" will start to sell at 3160 level heavily. I dont believe that the demand of stock shares right now will be as bullish as it was anymore after the big fall, thus, 3160 will be a strong resistance as well as the GAP. As of the moment, those who were able to liquidate der "ipit" at CUT LOSS will not buy back as well...giving the market less chance to hit 3400 level soon....SOON...BUT it will still happen as long as the market doesn't violate our 2400 level support with a reversal pattern.

3rd Observatiom:

Base from my chart, I will give PSE the credit of 50% retracement. I do believe that the market will and should correct upto 2602.46 to 2722.76 upto the end of 2nd quarter of 2007.

My long term outlook of PSE is still bullish, and I will keep my 2007 target for PSEi at 3550 to 3600 level.

4th Observation

After the Index rebound back to 3160, the gravity of profit takers and "Ipit" Seller would probably push the price down towards 2885.84 w/c is also the 38.2% retracement value base from the previous high and low of the most recent wave. At 2885.84 level, price would/could bounce up again.

This is just a piece of my mind. Please don't use it as a basis for your trade as I could be wrong. Some information above are my gathered thoughts from people who I trust re: PSEi Market like Master Dan, Master Bonner, and other experienced traders. The best advise is lighten up and sell nearest to your cost or at your target price. If you really like to leave a fight, maybe you can hold on to a portion of your position to test the market incase it becomes very very very bullish w/c is unlikely to happen soon...at least for now until the end of the 2nd quarter. Lightening up ur position would make ur portfolio at a safer position incase market retace back down to 2700 level as we have expected.

Hoping you the best in the trading days to come,

Voiyong[/b]

Val, I agree with you that we will follow what the other exchanges around the region are doing, although the PSE has been known to have a mind of its own.

I think that before it will test the support you're saying that's inside the channel, it will retest the lower channel trendline which is now the resistance. If that is higher than the area of resistance that you mention which used to be inside the channel, then whatever comes first ang itetest nya. Then I think it will go down from there.

That is the rally we're looking for to get out.