This week was another improvement to last week’s performance for the PSEi.  This, despite the lack of leads for the market to follow.
The index pushed itself higher from the 65-day moving average, which is serving as a support at 3012, by ending the week at 3069.
Although the PSEi is now trending higher, I’m still not [...]

The past week has been relatively good for the PSEi.  Not only has the index been trading off the lows of February but is now on its highest level since.
The PSEi has been able to prop itself up above the support of 2977 since last week and we saw that the 65-day moving average, now [...]

The bullishness of the PSEi continued when it broke the short term resistance line on Feb. 11.  Not only did we break the resistance at 2977, but we even tested the 65-day moving average at 3015…and then we came back to reality.
The index right now is caught between the 65 & 130MA, located at [...]

The PSEi had a good run last week…or so it seems.
Yes, the market rallied from recent lows to rise by 152 points in three days.  Sounds great right?  I kept wondering where the volume was while it was rising.  Due to this, I’m not convinced that this is the bull market that everyone is waiting [...]

As we earlier predicted, the PSEi would possibly drop to a downside of 2828.  This was already achieved last Friday as the index dropped to as low as 2826 before we saw a bit of a resilient market close at 2855.  I forgot to tell you that this is still a 50 something point drop.
If [...]

As expected, the PSEi has broken the neckline of the double top that we saw the other week.  This doesn’t look good for us.
For the moment, the 130-day moving average at 2917 is supporting the index, but it could only be a matter of time before this too gets broken.
The other indicator that shows that [...]

Something felt wrong when we saw the PSEi break the 3 support lines of the fan before.  True enough, it’s now showing us why.
Using the fan principle, it’s said that when the 3 trendlines of the fan have been broken, an imminent reversal of the trend is just around the corner.  While it still wasn’t [...]

The good news is that the PSEi has reached and surpassed our near term target of 3114.  The bad news is that the momentum of the index seems to be weakening even further.
The next level that the PSEi must breach is 3130 and that’s just around the corner.  However, knowing that the momentum is slowing [...]

Although the PSEi has been going sideways for some time now, the recent trading days’ action has been quite encouraging.
Even without any leads, the index’s performance has been quite bullish. So much so that it’s quite possible that 3114 would be reached within this week.
The MACD is also encouraging as the fast line has crossed [...]

The PSE ended 2009 with a whimper.  Even if the last trading day of the year produced a green day, it was still uneventful as most people were on vacation, either literally or figuratively.
Obviously, we are still in a sideways movement.  In fact, we wrote earlier that the index looks toppish.  However, we can’t say [...]