Monday, January 9, 2017

A Better Perspective of the PSE Index & PH Stocks

After reaching a three point price support level from 2012, the immediate reaction from institutional and some revisiting FDI have come to adjust market positions. As book-squaring comes normally towards the last few weeks of the year end. Quite a relief rally that narrowed some market loss on the overall value of the market since August of 2016.

Technically the market still looks top heavy but will welcome some market price recovery while maintaining a relative direction. This will test the next three months of the market's resiliency from drifting lower but would have to have a more encouraging news or data that can provide the volumes and momentum driver for this market to go back to the 7550 levels to be called back as a bull market.



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