Archive for October, 2009
The PSEi just broke another support after it went sideways on its way higher. Last Wednesday, the index broke the support at around 2900. The following day, it gapped down further to confirm that the trend is over but the following day it gapped up again but this time it only retested the trendline that [...]
People are already getting antsy about the market. Will it go higher? Will it correct? Should we buy? Should we sell? In a typical sideways market that’s in the middle of an uptrend, this is normal.
Earlier we said that the uptrend of the PSEi has finished and was moving sideways. We were expecting a correction [...]
The British pound last week was extremely bullish across the board.
Before the spectacular run up of GBP, I’ve detected an AB=CD pattern in the 4-hour chart which is confirmed with an RSI BAMM setup. With these two patterns, the probability of a reversal is high.
I went long on the British pound last week [...]
The Euro has been going up since the beginning of this year. It seems like nothing could stop its ascend especially now that the US Dollar keeps getting weaker and weaker. I say it’s time for major correction.
If EURUSD reaches 1.5025 / 1.5070 this week, that would complete the AB=CD pattern in the 4-hour timeframe, [...]
With nothing really earthshaking to move the market in either direction, the PSEi went on a generally sideways direction for the past week.
The first question that must be answered is are we still bullish despite the break of the earlier trendline back in mid-August? The answer is yes. The trendline was broken to signify that [...]
We’ve had somewhat of a breakthrough this past week. Not only did we breakout of a consolidation, the PSEi gapped up while doing so.
As we could see on the chart, the index broke out of the consolidation by gapping upward not only once but two consecutive times. This despite the DJIA continuing to consolidate inside [...]
The PSEi fared much better than its US counterpart last week. The DJIA was experiencing a lot of turbulence due to the release of various economic numbers which were not really that rosy. We expected that we would follow suit.
As far as the direction was concerned, we more or less followed. As far as the [...]
The PHP has been consolidating since the last time we wrote about it. Earlier, we thought that given the recent trend, it was very possible that the peso was going to return to the 52 peso level.
As it happened recently, the peso has proven us wrong. Given the neutral nature of the symmetrical triangle formation, [...]