Michael S. posted an article on Me-Six - Feb 5, 2012, 8:50 am
PSEi (Chart: Daily Resistance: 4820  Support: 4700/4590) The index created a new high last week, accompanied by high value turnover.  However, I would like to advise caution in further buying from this point forward, for the reason that all indicators are pointing to a negative (bearish) divergenc...
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Michael S. posted an article on Me-Six - Jan 28, 2012, 8:08 am
 PSEi (Chart: Daily  Resistance: 4760   Support: 4590) As observed, the negative divergence seen in the charts 2 weeks ago has manifested as the bearish event that happened last week.  The index took a dive but was able to recover on the last trading day.   The white candle that was formed last...
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Michael S. posted an article on Me-Six - Jan 23, 2012, 5:30 am
PSEi (Chart: Daily Resistance: 4747   Support: 4635/5460) The index made history once again as it moved higher creating new high for the market.  I was expecting the market to move downward last week, but bullishness sentiment was very evident that the index only had 2 days of downward movement an...
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Michael S. posted an article on Me-Six - Oct 22, 2011, 1:09 am
PSEi-Weekly Chart PSEi (Chart: Daily Resistance: 4218 Support: 4003) The index moved upward on the start of the trading day last week. It was a welcomed surprise, but unfortunately, value turnover on that day was relatively lower. For the remainder of the week, the index moved sideways, treading t...
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Michael S. posted an article on Me-Six - Oct 15, 2011, 12:59 am
PSEi (Chart: Daily Resistance: 4170 Support: 4003/3798/3715) The index rallied last week, stopping just short of crossing above the 200 day moving average. I didn’t expect the index to rally beyond the 4050 projected peak of the 4th wave (green bar on the chart). I was more of expecting a sid...
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Michael S. posted an article on Me-Six - Oct 7, 2011, 10:58 am
PSEi (Chart:Daily Resistance: 4050/4100  Support:3860/3715/3630) The index madea dip on the first half of the week and recovered on the second half.   From the looks of it, the index is movingsideways with large swings. If the resistance at 4050 still holds by next week,this may lead to the sidew...
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Michael S. posted an article on Me-Six - Oct 2, 2011, 5:57 am
PSEi (Chart: Daily Resistance: 4060/ 4130 Support: 3715/3630) The downward target level of the head and shoulder formation and the projected length of the 3rd wave near 3700 were reached on the first trading day of last week, with the index going as low as 3715. And right after reaching the target...
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Michael S. posted an article on Me-Six - Sep 24, 2011, 4:58 am
PSEi (Chart: Daily Resistance: 4050/3970/3870 Support: 3700) The index had the biggest drop in a day since Oct of 2008. This floored my jaw as my hopes were shattered for the index maintaining a sideways movement. The previous support near 4130 and the 130 and 260 day moving averages were also ...
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Michael S. posted an article on Me-Six - Sep 18, 2011, 9:20 am
PSEi (Chart: Daily Resistance: 4360/4400 Support: 4260/4230) The index’s situation slightly deteriorated last week. For the past 3 weeks the index has never gone below the standing support line of the sideways channel near 4290, but last week, the index breached that level forming a new low. ...
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Michael S. posted an article on Me-Six - Sep 11, 2011, 8:39 pm
PSEi (Chart: Daily Resistance: 4400 Support: 4290/4250) Just when I thought that the index is moving up beyond the current sideways channel, the index again fell within the small channel between 4400 and 4290. The recent activity only shows how volatile the market is. As of current, the sideways ...
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Michael S. posted an article on Me-Six - Sep 4, 2011, 2:23 am
PSEi (Chart: Daily Resistance: 4400 Support: 4350/4290) The index is still treading the line plotted by the 65 day moving average and it seems that it has confirmed a sideways channel between 4400 and 4290. If the index breaks out of that small sideways channel we could see the index moving back...
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Michael S. posted an article on Me-Six - Aug 26, 2011, 9:02 pm
PSEi (Chart: Daily Resistance: 4400 Support: 4300/4220/4180) The index is still on a sideways movement, treading the line plotted by the 65 day moving average. Whatever gains made on Tuesday was taken down on the succeeding days of the week. So it’s still a power play between the bulls and the ...
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Michael S. posted an article on Me-Six - Aug 20, 2011, 8:22 am
PSEi (Chart: Daily Resistance: 4440/4500 Support: 4340/4200) The index made no progress for last week. It went flatly sideways with high instability. Progress made by the index on one day is taken back on the next day. The sideways movement of the index last week would definitely be an indicatio...
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Michael S. posted an article on Me-Six - Aug 13, 2011, 4:41 am
PSEi (Chart: Daily Resistance: 4330/4440/4650 Support: 4170/4080) The index continued its downward movement creating a very large downward gap on the second day of trading. The support that I was expecting near 4330 which is the 65 day moving average was not able to contain the strength of the be...
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Michael S. posted an article on Me-Six - Aug 6, 2011, 4:38 am
PSEi ( Chart: Daily Resistance: 4560 Support: 4400/4330) The index had a short upward movement last week, but was probably capped by financial events occurring in foreign markets. After the short 1st day upward movement, the index went down and broke the standing rising wedge. Downward target va...
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Michael S. posted an article on Me-Six - Jul 30, 2011, 5:34 am
PSEi (Chart: Daily Resistance: 4515/4580 Support: 4450) The index moved sideways last week and regaining losses on the last trading day. As of current there is no significant area formation except for a possible rising wedge and this formation seems to be supported by the RSI and the MACD as of ...
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Michael S. posted an article on Me-Six - Jul 22, 2011, 8:11 am
PSEi(Chart: Daily Resistance: 4550/4580 Support: 4470/4330) The run up for the index for the past trading days was capped off with a sell down on the last 2 trading days for this week. The run up during the past 2 weeks gives us a good indication that the index is well on its way to create more n...
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Michael S. posted an article on Me-Six - Jul 10, 2011, 5:10 am
PSEi (Chart: Daily Resistance: 4460/4520 Support: 4340/4410) The index had a bullish follow through this week confirming the bullish actions the other week. Aside from the significant follow through, the index was also able to break above the previous high for last year and create a new all time ...
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Michael S. posted an article on Me-Six - Jul 3, 2011, 6:20 am
PSEi (Chart: Daily Resistance: 4351/4413 Support: 4250) The index moved sideways for the week, but made a remarkable comeback on the last trading day. The index was able to move beyond the standing resistance level of around 4340 and at the same time create a new high for the year. The MACD is no...
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Michael S. posted an article on Me-Six - Jun 24, 2011, 5:34 am
PSEi (Chart: Daily Resistance: 4290/4340 Support: 4217/4130) The index moved higher for the trading last week and it was able to recoup more than half of the downward movement for the past 2 weeks. It was quite strong considering that we only had 4 days of trading last week. This recent action w...
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Michael S. posted an article on Me-Six - Jun 17, 2011, 8:13 am
PSEi (Chart: Daily Resistance: 4200/4340 Support: 4080/3950) The index has now breached the support line from April 2011 as well as the 65 day Moving Average. The index is currently retesting the support-turned-resistance line and based from the candle sticks formed, the bears are winning the bat...
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Michael S. posted an article on Me-Six - Jun 12, 2011, 10:02 am
PSEi –Weekly PSEi (Chart: Daily Resistance: 4340 Support: 4180) As of trading last week, we are still on sideways movement trading between the range of 4180 and 4340. There are more negative technical instances than positive ones, so it would still be best to keep liquid if you do not plan on t...
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Michael S. posted an article on Me-Six - Jun 3, 2011, 11:56 am
PSEi (Chart: Daily Resistance: 4340 Support: 4180) The index generally moved sideways with an upward bias last week, and as of last Friday, the upward movement stopped short of moving beyond the resistance line. There is still no significant signal that can be seen from the index that would sugge...
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Michael S. posted an article on Me-Six - May 28, 2011, 5:12 am
PSEi (Chart: Daily Resistance: 4340 Support: 4170) The index continued to move downward at the start of last week, but was able to recoup losses on the last 2 trading days. A question of whether this is already the continuation of the upward trend is still unanswered until it is able to break abov...
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Michael S. posted an article on Me-Six - May 20, 2011, 9:35 am
PSEi (Chart: Daily Resistance: 4340 Support: 4260/4220) The index just moved sideways last week, but the movement is marred with a lot of sell down action. As I mentioned last week there is a potential for the index to form a double top or a head-and-shoulder formation. What I forgot to consider...
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Michael S. posted an article on Me-Six - May 14, 2011, 1:12 am
PSEi Weekly PSEi (Chart: Daily Resistance: 4340 Support:4180/4200/4050/4000) The index bounced back from the low of RSI 50 and had a short 3 day run-up to retrace its previous support-turned-resistance line. The last 2 trading days shows us a not so good sign as the last 2 days had sell downs accom...
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Michael S. posted an article on Me-Six - May 8, 2011, 11:15 am
PSEi (Chart: Daily Resistance: 4340 Support: 4170/4150) Looks like the bears won on the standing sideways movement of the index. The sell down brought the index lower by around 100 points. Although the sell down made a considerable effect on the index, there seems to be a light on this gloomy sc...
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Michael S. posted an article on Me-Six - Apr 29, 2011, 1:16 pm
PSEi (Chart: Daily Resistance: 4340/4400 Support: 4170/4060) For last week we were observing if the bullish actions last April 20 would be supported by a follow through in bullishness by Monday April 25. The index did indeed create a significant white candle spread on Monday, but the value turnove...
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Michael S. posted an article on Me-Six - Apr 24, 2011, 10:58 am
PSEi (Chart: Daily Resistance: 4300/4400 Support:4160/4060) The index has been moving sideways for the past 3 weeks and the resistance near 4300 is still holding its position. Question on whether the index would also be able to hold its position alongside the resistance line is still unanswered as...
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Michael S. posted an article on Me-Six - Apr 9, 2011, 2:27 am
PSEi (Chart: Daily Resistance: 4241/4300/4413 Support: 4053) The index lost a little bit of steam on the upward movement, with the index moving sideways last week. This can be attributed probably to the overbought situation of the index. For the coming week, expect further sideways to downward mo...
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Michael S. posted an article on Me-Six - Apr 3, 2011, 2:10 pm
PSEi (Chart: Daily Resistance: 4130/4240/4340/4413 Support: 3930) The index made a very surprising move last week and gained more than 200 points in a span of 3 trading days all accompanied with high value turnover. Now we have a confirmed break out from the existing downward channel from Nov 2010....
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Michael S. posted an article on Me-Six - Mar 27, 2011, 11:01 am
PSEi ( Chart: Daily Resistance: 3920/3950 Support:3850/3700) The index generally moved sideways last week with a slight upward movement showing a lot of indecisiveness as evidenced by the cross and short body of the candle stick. However trading last Friday was a little bit different from the prev...
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Michael S. posted an article on Me-Six - Mar 19, 2011, 8:01 am
PSEi (Chart: Daily Resistance: 3950/3920 Support: 3690/3720/3820) The confirmation of the hammer formation and the bearish indicators happened with the index moving downward last week. Trading last Friday saw a white candle with a relatively large value turnover; A sliver of hope that the current ...
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Michael S. posted an article on Me-Six - Mar 13, 2011, 9:33 am
PSEi (Chart: Daily Resistance: 3980 Support: 3700) The index continued its upward movement last week but stopped short of moving beyond the resistance line near 3970, which is also the 65 day MA line. The upward movement was accompanied with large value turn over, but it was not able to sustain i...
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Michael S. posted an article on Me-Six - Mar 5, 2011, 10:15 pm
PSEi –Weekly Chart PSEi (Chart: Daily Resistance: 3950/3980 Support: 3705/3605) The index made good progress last week starting the trading week with a white candle accompanied with large value turnover. The confirmation of the bullish start of the week came only on Thursday as the index was abl...
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Michael S. posted an article on Me-Six - Feb 27, 2011, 10:26 am
PSEi (Chart: Daily Resistance: 3890/3950 Support: 3650/3630) As expected, the index moved lower last week, technically due to low value turn over on the run up from the previous week. This however may change for the coming week as the index moved positively last Friday. The small white candle was ac...
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Michael S. posted an article on Me-Six - Feb 19, 2011, 11:36 am
PSEi (Chart: Daily Resistance: 3912/3935/4034 Support: 3653) The index moved higher for last week, however, it was a little bit disturbing as value turn over was very thin while going up. Thin value turnover means we do not have much player in the market. What is keeping players at bay is something ...
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Michael S. posted an article on Me-Six - Feb 11, 2011, 8:13 am
PSEi (Chart: Daily Resistance: 3910 Support: 3700) The index made a bearish move last Thursday, sending the index down 100 points and breaking the long standing support line from Feb 2010. The two days when the index went lower (Wed –Thurs) was accompanied with higher than usual value turnover an...
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Michael S. posted an article on Me-Six - Feb 5, 2011, 12:01 pm
PSEi (Chart: Daily Resistance: 3986/4100 Support: 3831/3727) Just as I thought that the index would start to move upward, the index moved lower on the first trading day last week and created a gap down. The support-turned-resistance line connecting the troughs of Nov 30 and Jan 11, proved a strong ...
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Michael S. posted an article on Me-Six - Jan 28, 2011, 1:57 pm
PSEi (Chart: Daily Resistance: 4026/4126 Support: 3880/3726) The recent bus bomb blast incident made a mark on the index as seen on the day after the incident (Wed) with a black candle and large value turn over. This however, did not have a lasting effect, as on the following day, the index recouped...
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Michael S. posted an article on Me-Six - Jan 21, 2011, 8:18 am
PSEi (Chart: Daily Resistance: 4040/4065 Support: 3940/3880) PSEi action for last week was very much unexpected. After a prior week of large value turnover, I was expecting for the index to push further up until the resistance line of the sideways channel. However, the 65 day MA proved to be a stron...
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Michael S. posted an article on Me-Six - Jan 15, 2011, 10:48 am
PSEi (Chart: Daily Resistance: 4180/4260 Support: 4000) The index opened the week with a downward action, breaking the 65 day MA on the first trading day. It continued its downward movement the following day, creating a gap down and further breaking the support line. The breaking of the support l...
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Michael S. posted an article on Me-Six - Jan 9, 2011, 10:42 am
PSEi (Chart: Daily Resistance: 4246/4260 Support: 4180/4090) As expected the index went sideways to downward. It is currently trading in a very narrow channel, between the 65 day MA (4180) and the resistance connecting the previous highs. The last trading day last week saw a black candle accompanied...
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Michael S. posted an article on Me-Six - Jan 2, 2011, 9:19 am
What: PSE Bull Run 2011 When: Jan 9, 2011, Sunday Where: Fort Bonifacio Global City in Taguig Absolute Traders will be at the PSE BullRun, in line with their commitment to teach interested people to learn how to invest, trade and maximize opportunities in the stock market. AT supports this yearl...
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Michael S. posted an article on Me-Six - Jan 2, 2011, 9:10 am
PSEi (Chart: Daily Resistance: 4235/4239 Support: 4174/ 4040 ) First of all Happy New Year to all of you! The index, from the first look, seems as if it is forming an inverse head-and-shoulder formation, which is something that I was hoping for last year, but from the last trading day of 2010, it so...
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Michael S. posted an article on Me-Six - Dec 12, 2010, 10:52 am
PSEi (Chart: Daily Resistance: 4235 Support: 4049/3953) The index encountered resistance upon reaching the previous high of 4221 and have started to move south again. As of current, the 65 day MA is supporting the index, but if this does not hold, the next support would be at 4049, then at 3953 whic...
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Michael S. posted an article on Me-Six - Dec 3, 2010, 9:03 am
PSEi (Chart: Daily Resistance: 4194/4221 Support: 3953) The index has bounced from the lows of the RSI 30. Trading last Thursday created a white candle that broke both the immediate resistance line and the resistance line from the start of the downward movement. It also broke through the 65 day MA a...
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Michael S. posted an article on Me-Six - Nov 28, 2010, 7:53 pm
PSEi (Chart: Daily Resistance: 4220 Support: 3800) The corrective C wave happened earlier than what I expected, starting the trading last week with a downward movement which continued for the whole week. The downward movement stopped just on top of the 65 day MA, so it’s a wait-and-see if the 65...
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Michael S. posted an article on Me-Six - Nov 19, 2010, 11:08 am
PSEi (Chart: Daily Resistance: 4250/4300 Support: 4050) Looks like the 65 day MA acted as support for the index, as it was able to bounce from the downward movement. Trading last Friday created a white candle accompanied with large value turnover. We may be seeing an A-B-C corrective Elliott Wave ...
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Michael S. posted an article on Me-Six - Nov 14, 2010, 5:33 am
PSEi Weekly Chart PSEi (Chart: Daily Resistance: 4413 Support: 3980) The index had no respite from the successive sell down that happened the whole week last week. RSI even went below 50 which usually acts as support when RSI comes from the beyond the RSI high of 70. There is still no good indicator...
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