PSEi Analysis Update   6/29/2k11

I would like to correct my post last June 27,2k11.  There was a technical glitch that happened on my AmiBroker that seems to not been  able to download the Volume from June 21 -24 fo the PSEi. and a gap seems to appear last June 21,2004 that made me to believe this is a measuring Gap.  Therefore let me correct by saying that there was no gap that happened and the way the market is moving that we are still in bullish consolidation mode that can break very very soon.

But my forecast is still on the same bullish sentiments.

" So what the trends tells us is that once the market breaks the (yellow green- angle) and the horizontal resistance(4328 level , then that's the time it will break-out of consolidation or is  now poised for another set of Bull Run for the coming days or weeks. From my count on cycle days-(it might fall on the 35th day counting  from May 21till July 13).   We are still on a bull market because if we are on a bear market, then we should have broken the angles (yellow line) and support  lines already at  4127 and 4170 level last June 14.

 But still watch out for pull backs on resistant dates on June 27-28,- as 50% fabonacci time retracement. We can expect short term sell-offs but I recommend  this as an opportunity to buy and take long term positions. The next  resistance dates after that will be on the July 11-13 (35th day), and on the 27-29 of July (42th-45th day)

Looking at the bigger picture: The paralled green lines for the consolidating range is on an upward slope. Which really tells us that the bulls is just eager to break out of consolidation. And the red vertical broken line is the center of the ecliptic timeframe, the next 35th day reaction would probably on July 13 as another significant date for trend action.

TIPS:  You should already seen mining stocks bursted last week, this is expected because they are fast moving stocks and moves faster than the index. The next stocks to watch out are the financial sector,banking, containers and food companies as outperformers.  But choose the heavily traded ones. while avoid stocks connected with chemicals,cosmetics, jewelry,apparel and legal profession.

Happy Trading

-pinoyGtrader

PSEi Analysis Update 6/25/2k11

 PSEi  Analysis Update  6/25/2k11

A recap from what I mentioned from my previous post on last June 2 (see earlier picture).
For June 21 -24 = watch out for trend change signal (high volatility days)
what ever the direction of the market on this date will be the
direction of the market until the next significant date.
From the way the market moved recently, there was a Measuring Gap that  happened  on June 21-  this is a signal that the Consolidation range is officially over and that the new trend is forming around the corner.
And for those who  are not familiar with  the gap- A measuring Gap usually occurs in an accelerating trend of the Market, this gap occurs when  a  high volume trend  changes in direction. (where in PSEi consolidating with high volume).  It also happens on the 3rd or 5th count of Elliott waves.
So what the trends tells us is that we are now poised for another set of Bull Run for the coming days or weeks. Because if we are on a bear market, then we should have broken the angles (yellow line) and support  lines already at  4127 and 4170 level last June 14.
 But still watch out for pull backs on resistant dates on June 27-28,- as 50% fabonacci time retracement. We can expect short term sell-offs but I recommend  this as an opportunity to buy and take long term positions. The next  resistance dates after that will be on the July 11-13 (35th day), and on the 27-29 of July (42th-45th day)

TIPS:  You should already seen mining stocks bursted last week, this is expected because they are fast moving stocks and moves faster than the index. The next stocks to watch out are the financial sector,banking, containers and food companies as outperformers.  But choose the heavily traded ones. while avoid stocks connected with chemicals,cosmetics, jewelry,apparel and legal profession.

Happy Trading
-pinoyGtrader

Looking at the bigger picture: The paralled green lines for the consolidating range is on an upward slope. Which really tells us that the bulls is just eager to break out of consolidation. And the red vertical broken line is the center of the ecliptic timeframe, the next 35th day reaction would probably on July 13 as another significant date for trend action.