PSE / PSE Indices
Can you feel the weight of the market coming down on you? I guess many of us can feel it’s getting heavier as the weeks go by.
Due to lack of any fresh leads, which is almost always the case, the PSEi dropped again and is now trying to retest the lows of March. Would we go any lower? Anything can happen at this point.
None of the indicators give us any bullish reading. The moving averages are still above the index. The MACD has crossed below the slow line and we’re still in bearish territory. In fact, the index’s MACD has been oscillating in that area since December 2007.
What should we expect for this week? There could be more listless trading and more pressure on the index to go even lower. I hope I’m wrong but all indications point in that direction. 
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