Technical Insider

DJIA = +53.49 (0.39%) DJIA closed higher. It managed to close higher than its open producing a white candle with a short upper shadow and a shaven bottom, which might mean that the bulls took over the trading today but there was some uncertainty after reaching the high 13877.17 and 1382.19, the close. I think it is a concern that it has been producing lower highs for last three trading days, which might be a signal of weakness. It is of great comfort that prices are above three short term moving averages (9,18,27MAs) which is a signal of bullishness in the short term. So what will the coming trading day for PSEi be like? Most likely there is less risk for PSEi to go down, not that it wont. So pick your issues carefully over the weekend and I do hope that I can share some of my thoughts with you about our local market before the opening bell on Monday. Happy wet weekend! Take care and God bless!

Disclosure: Sold all of my PX at 7.2 Reason: Target price achieved Comments: good volume today may still have more steam to achieve new highs. Good luck to all PX traders!

WIN was the second top gainer in yesterday's trading (2nd only to GO). Disclosure: I got some positions at the close around 0.37. I decided to get WIN because of volume and price movement. Upon further analysis there are several psychological resistances to contend with: 0.37, 0.39, and 0.44. I am hoping to sell near the resistance of 0.44 if there is weakness in today's price action. WIN also crossed above the 32MA which will likely act as its support at 0.33/0.34. We can also look at the 65MA as the resistance at 0.42/0.43. Good luck to all WIN traders :)

BPC looks like a break out from a very steep down trend. (yellow line) There is a subtle demand line that might be a major support for BPC. It was supposedly a good buy at the close of yesterday's trading but volume as you can see from the chart is a bit concerning. Good luck to all BPC traders :)

DJIA (Dow Jones - US market) was able to surpass a recent high and possibly a psychological resistance at 13657 which may now be acting as a psychological support level. Note the green lines that were previous resistances that may now act as support levels. The demand line (blue line) is still recording a bullish sentiment. So until this is breached the bulls may as well be in control :) We can expect profit taking today at the PSEi :) note your stops and trade accordingly :) Ingat sa Ipit :) Don't be a Technical Insider :) Good luck to all traders :) Chart used for DJIA from www.bigcharts.com :) pls visit thier site :)

Thank you again for visiting this blog :) Disclosure: I bought MER again today at 84 minutes before it closed at 85 :) tsamba :) Looking at the Chart I drew 2 lines approximating the supply and demand lines for MER. Although not presented here are the Moving averages for simplicity of the chart it is nice to note that the price movement towards the close of 85 today moved above the 32MA which might signify an uptrend in the short term and that it may become the support at 82/83 level. Also nice to note that the 65MA now at 88/89 level will serve as a resistance. So why did i get more of MER? 1. It managed to move above 83 which was acting as a resistance level 2. It moved with significantly higher volume (over the last 10 trading days) 3. There was a lot of foreign buying (2nd most foreign buying; 2nd to TEL) Target price: I'm not sure it MER broke out of an area pattern or if there are clear signs of reversal towards an uptrend. So I'm pegging a sell at the resistance being ...

First of all I would like to welcome you to my blog :) Thank you for your time! This post is being made after the Federal Reserve cut U.S. interest rates. "The unanimous decision by the central bank's policy-makers took the benchmark federal funds rate, which governs overnight loans between banks, down to 4.75 percent, its lowest since May of last year. The Fed also cut the discount rate it charges for direct loans to banks by a half-point to 5.25 percent." - Mark Felsenthal, Reuters Before the Philippine Stock Market opened today, everyone had a bullish sentiment and expected breakouts by the stocks they were watching. Some issues did... (NI - with very significant volume; and PX - but it closed on its opening price and volume was not significantly increased) It is nice to note that although the PSEI moved to form a long white candle - to signify bullishness and possibly a reversal of the trend towards: uptrend; a psychological resistance which was made by the recen...