News / Philippine Stock Market

PSEi Outlook For Mar. 17 - 19, 2008 By Bonner Dytoc March 16, 2008

Expect very light trading this week.  People are on vacation, physically or mentally, or both.

The way the index looks, many have taken their vacation from the market since the start of the year.  The downtrend has not yet been finished.  The market has long been in a bear market as the index has been performing below the moving averages.  We already saw this when the MACD tried to rally but couldn’t even get near the zero line to cross it.  In fact, the MACD has crossed below the slow line again to trend lower.

It looks like we’ve got a bleak summer ahead of us with this current situation.  Of course, we’re talking about the short-term.  The long-term support is still intact but many are quite concerned with the here and now.

So what do we do while the market is down and there’s no short selling yet?  This is the best time to arm yourself with the knowledge of how to read charts properly while the market hasn’t taken off yet.