Technical Insider

DJIA = 11,972.25 (+0.18%) DJIA forming a white candle with lower low and lower high. Volume increasing slightly. DJIA seems to still be trading within the trading range it has set since the middle of January this year. Though the Bear Stearns collapse seems catastrophic, the DJIA did not seems to buckle under this bearish pressure. Maybe due to the recent cut made by the Fed? I hope the local stock market rallies with the strength that DJIA is showing :) Good luck to all traders!

PSEi = 2793.68 (-3.9%) PSEi formed a big black candle with lower high and lower low. Volume decreased slightly. PSEi might have reacted to bearish outlook of the US stock market and the collapse of Bear Stearns. I hope PSEi manages to post gains today. I'm praying for a miracle that PSEi forms a higher high today :) Kindly look at the formation of the RSI with respect to the Price. Price has formed a lower low, but RSI did not form a lower low... slingshot anyone :) Good luck to all traders!