Finally the break that every trading participant in the #PSE has been anxiously waiting to occur have. The PSEI marked a record high at 8169 levels and pulled back to close the pm session at 8144.
PSEI as of Sept 14, 2017
Now we shall see the closing price for the week. Although some stocks have contradicted the market sentiments by backing the trend. As #BPI have continued its 'Obvious Pattern' behavior & decline respective of some analyst keeping faith on financials. The timing could not have been well aligned with the US major indices setting record highs as well which we would discuss in our next market perspective. The first two weeks of September as previously stated last Sept 1, 2017.
While using #RRHI as one of our stock selection among other sector group indeed have justified its expected / projected 'Angle & Measure of Acceleration' have NOW been VALIDATED as prices marked a high at 96.30 from 90.75 defined on the RRHI chart above..
Meanwhile, today's Price Action at least was well within the time frame projection from the last market analysis. Since the 'HOLDING Firms' outweigh the rest of the industry sectors, a side by side comparative analysis presented below justifies our market call.
Excerpt:
'Again the first two weeks of the new month of September may prove to be an exciting one as we expect market volatility to increase moving into the end of the third quarter trading'.
ONLY THE BEST FOR YOUR TRADES! CHEERS
What the PSEI needs is a stronger conviction of overall market sentiments and a follow through that can be sustained and not price in protectionism among selected stocks which have obviously been identified while trying their utmost best to influence the rest of the pack.
ReplyDeleteA good read in the market price behavior reflects such trading behavior not commonly seen in the market place. This is what new investors and traders would have to learn from experience in trading these markets. Its not as easy as others would claim it to be. Caution and Due Diligence is a MUST!
As expected PSEI retreats back at 8109 on profit-taking and naturally being on another Friday pay-day weekend on position trades made prior to the closing month of September. No follow-though were actually expected since market participants would rather walk away over the weekend with uncertainty over North Korea's recent missile launches over Japan air space.
ReplyDeleteAnother Friday LMR - a surprising yet ironic move by the PSEI closing at 8180 after INTERVENTION have allowed the last minute rally with the able assistance from financial and property with the exception of course of #GTCAP closing at 1174 from an 1199 high.
ReplyDeleteRetail traders and investors take caution with these movements, as it would not be the first time again nor the last. However, in spite of the move, its advantage is for those who have an #EPHE position trade in the US market shall in fact enjoy the price extension of a 'REINFORCED TREND direction that has been established 8 years in the making.