Quo Vadis PSEi 2

The Stubborn Fibo 61.8 still stand tall, blocking any effort of the bull to pass thru it...

The Psei Bull seem losing early strength and the bears getting the upper hand as every trading days bell rang.

Smart money turned seller this week, to the tune of -₱1.6B, thus helping stock prices to come down.
MACD is also showing bearish mood and if everything will follow this trend the market will definitely test the 7100 territories or bad to worse the 6900/6800 territories before the month ends.

On the brighter side, volume of trades from last week is below average.

As par as I can deduce, most smart money are anxious who will be next driver of Philippine Economy, and just on a wait and see attitude... Few were bold enough to position this early March(+ ₱9B NFBS), I just hope they will continue this April. Another thing that hamper the smart money from coming back is the market high valuation (Stock valuations trading near highest level since August ).

I feel bearish this coming week and I hope the market prove me wrong again !

CAVEAT !!!

Quo Vadis PSEi ?

 Sa nakaraan kong blog, I take note the importance of Fibo 61.8...
The market proved us how stubborn this resistance... In eight trading days, It just hang on to the 61.8 Fibo vicinity...

We are on a cross road... the market need more positive news specially regarding from US QE. We need more oversea funds to push the market up.

Sa tingin ko additional +5B foreign funds entering the market this April will pull us through this stubborn resistance on the way to 7400.

Kapos yun +1.5B last 2 weeks to push the market up !

Crucial yung 2 trading weeks na padating...
kailangan ng hinete na magaling kumayog at pumalo.

Darating kaya sya ngayon Abril o isang April fool joke na lang ang bull run na ito ?!
Bawal dito henyo...

CaVeAt !