PSE Index Chart Analysis for the Week(March 9 to 15, 2014)

Figure 1: PSE Index Chart

Just notice lately that our index is forming a triangle pattern whole target is around 7640. Prior to this triangles target my projected target is the 7221 area. Should the triangle's target be hit then index may have a projected target of 9200. Will give details once we hit 7640.

PSE Index Chart Analysis for the Week(March 2 to 8, 2014)

Figure 1: PSE Index Chart

Finally the index was able to break its RSI 60 level. This plus the breaking of the 200 moving average (green line) confirms the re-entry of our index to bullish territory. I am projecting my near term target of our index at 7145. but first it needs to break that resistance at 6637 (conservative target). Current momentum is still  strongly bias upward.

PSE Index Chart Analysis for the Week(February 16 to 22, 2014)

Figure 1: PSE Index Chart

Sorry guys, I wasn't able to update my blog for a couple of weeks for I've been busy lately. Anyway, for this coming week I am expecting for some correction in our index to occur because it is already short term overbought. Aside from this it is now encountering some major resistance. Both the Fib 50% line and its down sloping RED trend line is acting as key major resistance. I need to see that trend line as well as the RSI 60 broken before considering our index as already bullish. Momentum upward is still weak.   

PSE Index Chart Analysis for the Week(January 12 to 18, 2014)

Figure 1: PSE Index Chart

Overall market is still trending down with a possibility of market reversal, as indicated by the RSI being able to already break its down trendline. However momentum upward is still quite weak and our oscillator still needs to hit the oversold area, indicating a possible continuation of the market correction this week. Index needs to break the 61.8% fib resistance while keeping prices above 5700 to 5795 for this possible reversal to remain valid at this moment. 

PSE Index Chart Analysis for the Week(December 8 to 14, 2013)

Figure 1: PSE Index Chart

On my last index analysis, I have expected the index to bounce/reverse. Indeed it pulled back towards our 38.2% fib resistance and the 20 MA before correcting again from being short term oversold. For this coming week I am expecting the index to continue consolidating with high probability of moving sideways before resuming its upward move. Momentum downward is quite weak now when compared to last time. What I am speculating right now is if the index will form a double bottom pattern. 

PSE Index Chart Analysis for the Week(November 24 to 30, 2013)

Figure 1: PSE Index Chart

Sorry guys, I was not able to update my blog for the past 2 weeks because I've been busy due to typhoon Yolanda. Anyway, as per latest update the RSI 60 proved to be a strong area of resistance. Right now the index is already at oversold area, increasing the possibility of a  pullback/reversal soon. But I will still remain cautious until the very strong momentum downward will slow down. 

PSE Index Chart Analysis for the Week(November 3 to 9, 2013)

Figure 1: PSE Index Chart

Index bounces of short term trendline support. It seems this trendline along with the 200 MA are acting as strong area of support for our index. Index is now at shorterm oversold area and its momentum continues to be strongly bias upward. With this I am expecting the index to continue moving sideways to up. The only negative I can see for now is that RSI is near its major resistance. It needs to break this RSI 60 in order to proceed upward and finally confirm RSI entry to bulls territory.

PSE Index Chart Analysis for the Week(October 28 to November 1, 2013)

Figure 1: PSE Index Chart

The index is not testing its short term trendline after correcting last week from being short term overbought. Lets see it this trendline will hold. The 200 MA (Green MA) is also acting as immediate support. Momentum continues to be strongly bias upward.

PSE Index Chart Analysis for the Week(October 13 to 19, 2013)

Figure 1: PSE Index Chart

The index continues to move sideways last week, tracing the path of our 20 MA(RED MA). It is now at overbought area and the 200 MA (GREEN MA) acting as resistance. I am expecting this week, that our index will try to fill that small gap and correct from being short term overbought. Momentum continues to be weak and slightly bias upward. I am assuming our index may be trying to form an squeeze effect in terms of volatility before heading up to 7,200. 

PSE Index Chart Analysis for the Week(September 22 to 28, 2013)

Figure 1: PSE Index Chart

The index was finally able to break its major trendline resistance. Our RSI also confirms this breakout. Since momentum is now strongly bias upward and our oscillator is indicating short term overbought reading, I am expecting the index to consolidate the coming week. High possibility it will move sideways while consolidating. It may also try to revisit and fill in that small gap above. 

PSE Index Chart Analysis for the Week(August 4 to 10, 2013)

Figure 1: PSE Index Chart

The index right now is located near critical major support. A break of this support will bring the index down to the 200 MA line or the 6340 level. However, there is some possibility that this major support will hold given the index right now is already at oversold level. Momentum upward continues to slow down. 

PSE Index Chart Analysis for the Week(July 21 to 27, 2013)

Figure 1: PSE Index Chart

Sorry guys. There was no index chart update last week coz I was on a trip. As an update, the inverted head and shoulder pattern which I was mentioning the past weeks was already confirmed. Revealing possible target of approximately 7400. 

As an alternative, using the harmonic analysis, we can clearly see that index is possibly forming a bearish bath pattern. Prize reversal area is around 7200. 

Figure 2: Index potential Bearish Bat Pattern

Combining these two analysis, we can estimate the possible target of the current run of our index to be around 7200 to 7400.

For this coming week I am expecting the index to either continue consolidating or possibly even correct to ease out short term overbought condition. Upward momentum is slowing down. Take note also of the GAP which has the tendency of being filled up soon.

PSE Index Chart Analysis for the Week(June 7 to 13, 2013)

Figure 1: PSE Index Chart

The index is now starting to fill the gaps I have mention on my previous post. Its now starting to form also the right shoulder of the possible Head and Shoulder pattern. Once we have a confirmation of that Head and Shoulder pattern, I will expect the index to at least hit 7,400. Right now the index is still short term overbought and still needs to correct or consolidate before continuing to move upward.. Its also starting to build up some upward momentum.

PSE Index Chart Analysis for the Week(June 30 to July 6, 2013)

Figure 1: PSE Index Chart

Last week the index break down below our TP1 and extended its correction, hitting approximately our TP2. This coming week I am expecting the index to correct and try to fill the 2 gaps shown in my chart. Some signs of possible bottoming of our index is already developing. RSI formed a bullish divergence pattern which possibly signalling an upcoming trend reversal. After the gap will be filled, I need to see also a higher swing low pattern or an inverted head and shoulder as another possible trend reversal signal before entering back to our market.

PSE Index Chart Analysis for the Week(June 23 to 29, 2013)

Figure 1: PSE Index Chart

Last week the index continued to correct after hitting resistance around 6500. This week I am readjusting TP1 (6100) for current market correction. What amazes me right now is that there is already some sign of market bottoming . Aside from the RSI was already able to hit oversold area, indicating possible market bottom. There is also some divergence developing with regards to index momentum downward. Index corrected last week, but momentum downward is slowing down. If TP1 holds then its possible that market will form a double bottom pattern. I am looking at TP1 as possible bottom, but in case TP1 will not hold then look for possible bottoming at TP2 or at TP3. Lets see what will happen this week. Best to our trades. 

PSE Index Chart Analysis for the Week(June 16 to 22, 2013)

Figure 1: PSE Index Chart

Last week the index has pulled back towards 7000 level, just like what I am expecting it to do. After which it continues to move downward creating what it seems to be a breakaway gap. Key target of correction are the TP1 and TP2 of the chart. The 200 MA is now acting as key support. The breaking of this 200 MA will give as signal that our market will be in bear territory already. Downward momentum is extremely accelerating downward with no clear sign yet of slowing down. This is definitely not good sign for now. Best to our trades.

PSE Index Chart Analysis for the Week(June 9 to15, 2013)

Figure 1: PSE Index Chart

The index continued to correct, breaking its recent up trendline last week. Luckily it was able to find some support around 6500, forming a bullish reversal candlestick pattern (hammer) last Thursday. I am expecting the index to pullback towards 7000 level, for it is now at oversold territory. The only drawback is that momentum remains to be strongly bias downward. I need to see a slowdown in this downward momentum before we can expect a possible resumption of the upward trend.

PSE Index Chart Analysis for the Week(June 2 to 8, 2013)

Figure 1: PSE Index Chart

Index was able to find key major support near the 7000 level. Volume turn-over was also very high, indicating a possibility that this correction is likely to end soon and that the index will resume moving upward. Need to see some slowdown on its downward momentum to confirmed possible reversal of index. Index is currently at oversold level.

PSE Index Chart Analysis for the Week(May 5 to 11, 2013)

Figure 1: PSE Index Chart

Last Friday the index gap up with above average volume turnover. Seems like we have a breakaway gap in the making over here. But anyway, lets see if the index will try to fill this gap first before continuing to move upward. Upward momentum remains very strong. 

PSE Index Chart Analysis for the Week(April 28 to May 4, 2013)

Figure 1: PSE Index Chart

The index is currently located along key minor support area. Momentum is still strongly bias upward and is neither overbought or oversold right now. Keep watch for any breaking of support lines for this will indicate some market weakness. I am expecting the index to continue moving sideways to up.