News / Philippine Stock Market

PSEi Outlook For Feb. 18 - 22, 2008 By Bonner Dytoc February 17, 2008

The more things change, the more they stay the same.  Actually, it could be more of the same for our index next week.  We’re definitely going sideways, looking for some lead in the market to push it higher.

Unfortunately, not only do we not have any lead, but also the index can’t seem to decide if it will stay in the channel or not.  The MACD tells us that the index is in a rally mode. However, I can’t seem to see that rally in the current movement.  Add to that, prices are still below the moving averages, giving us some bearish sentiment.

This is turning out to be one of the quietest first quarters for the PSEi.  Looks like it’s going to be a long wait before things turn really around.