In recent times, you could be forgiven for thinking that the American economy was about to embark on a long and glorious recovery. As property prices [Read more…] about The U.S. Stock Market: Suffering in the Wake of Growing Risk Aversion
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As I mentioned in my post last year “the Santa Claus rally is the rise in stock prices in the month of December and is usually seen on December 26 to December 31 in most stock markets worldwide. However, it doesn’t happen at the exact dates mentioned but yes, it usually takes place after Christmas day and before New Year’s eve. [Read more…] about Hello Santa Claus Rally!
Could the Dow Jones Industrial Average (^DJI) continue its descent? [Read more…] about More Downside Seen In The Dow Jones Industrial Average (^DJI)?
A technical analysis of the PSEi chart: Is the Philippine Stock Exchange main index gonna continue heading up?! Can’t really tell… All I can say is that there seems to be a small symmetrical triangle chart pattern being formed (indicated by the red circle) and it can be bullish or bearish. Click image to enlarge!
Based on my technical analysis, which among the resistances will manage to hold the Philippine Stock Exchange/PSEi from rapidly increasing its value. Is it the resistance at the 2620 level (lower green dotted horizontal line)? Is it the 2750-2800 resistance (upper green dotted horizontal line)? Or none of them?! Woah, really hard to tell! Click image to enlarge!
The Philippine stock market has been going up for 2 months now as reflected by PSEi, the main index. PSEi looks quite intact in its uptrend as long as its value is maintained above the immediate support line (violet dotted line). Click image to enlarge!
As we can see, the PSEi has achieved it’s target price after breaking out from a symmetrical triangle (encircled with yellow) and its downward resistance (green dotted line) late March. Is it now time for the PSEi to go back dropping again after weeks of good runs?! I hope not. Personally, I’m really bullish with the Philippine stock market as well as the US market but it just needs to correct. Click image to enlarge!
PSEi, the Philippine Stock Market‘s main index, has dramatically been falling down for more than a year now along with the global markets. However, we can see from the charts that the year long decline of the PSEi has been reversed last week as the prices emerged above the downrend‘s resistance line (green dotted line). Is this already a reversal or just a rally?! Click image to enlarge!
The Philippine stock market has been in a slump as a reaction to the US financial crisis. DJI, the U.S. market’s major stock index, had been tremendously declining for quite some time now. As we can see in the chart, DJIbroke down from a head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it). It made a rising wedge (emphasized by the 2 short diagonal lines) which bounced from the neckline (longest red line) and easily achievied the minimum target (red dotted vertical line) of 9,500. After a while, it just duck dove all the way to the 8,000 area as a result of continuing bad news on different companies. At present, DJI is around its major support (violet line). If backed up by good news, we might be seeing a rally in the next few days because of the doji-looking 1 day reversal with its latest candlestick (red circle on the 3rd picture). Click image to enlarge!