Following the one-day debacle of the DJIA, the Philippine Stock Exchange Index (PSEi) also opened weak on May 7 to regain most of the loss.  In short, it was still a down day yet it had bullish implications.  What we were expecting from this day was a one-day reversal that will push the index back [...]

The Philippine Stock Exchange Index (PSEi) looks very similar to the DJIA as it also recently stopped going higher and broke the support line at 3215 and ended 113 points lower on May 5.  When that happened, the index formed the bearish formation called the double top.  We were looking at 3145 to serve as [...]

For the past two weeks, we have been bullish with the mining sector and with good reason.  The first reason is that gold has still been continuing to go to higher levels and we are still expecting this precious metal to land somewhere between $1200 – $1300/oz. soon.  We see two more reasons to be [...]

What should we expect from the week before elections?  On one hand, we can expect a correction for two reasons: the 158 pt. drop of DJIA on Friday and the bearish outside day experienced by the PSEi.
The bearish sentiment coming from the US is understandable as more often than not, whatever happens there spills over [...]

First the bad news.  The PSEi continued the downtrend from last week due to the fallout from the Golman Sachs fiasco in the US.  We reached a low of 3145, coming from a high of 3322.  The good news is that we’ve rebounded from the recent low to close slightly higher at 3244.  Better than [...]

One of the few stocks that has been grabbing my attention for the past week has been Oriental Peninsula Resources or ORE.  It was last spotted creating a base around 1.50 to 1.62 before it started moving higher.  It was able to close at the high of 1.90 as of this writing.
The pattern that ORE [...]

Last week’s ending for the PSEi didn’t look promising for the near term.  In the last two trading days, we lost around 50 points total.  Our latest problem is that the DJIA lost 125 points last Friday and chances are, the dip will spill over to our market.
Although the week ended higher as a whole, [...]

The PSEi continues to move higher despite the lack of leads in the market.  That’s the good news.  The bad news is that we seem to be just moving within a range.
At first glance, everything looks bullish after the index surpassed the level of 3133.  The moving averages are in the right setup.  The MACD [...]

Well, we got our wish last week.  We wanted the PSEi to break through 3133 and stay above it.  At the very least, the first part was granted.
The index ended the week at 3180, 47 points higher than the 3133 we were initially looking at.  However, I’m still not that convinced that this is a [...]

After retesting the recent high the previous week, the PSEi just went sideways this week.  It’s still too early to tell if we are on our way to newer highs or we’re just about to form another top, making the current formation a bearish one.
As of the moment, the index is still doing okay as [...]