Philippines PSEi Index: 26 January 2014, Sunday, 12.02pm Singapore Time
Chart courtesy of Chartnexus.com
Attached above is the Philippines PSEi Index.
+ Huge Distribution Triangle using 5519-5669 points for the operation
+ Orange Zone serve as ultimate warning
+ Market is awaiting the mark-down stage (plunging stage) in Philippines
+ Emerging Markets are expected to sell off violently as per warned to get out in Nov-Dec of 2013
+ Also warned that 2014 will be welcomed with huge sell-downs
+ At best, Philippines will use 2014 to just merely consolidate; at worst, it will have a major selling in 2014 to break down 5519-5669 points band. If this band breaks, floodgates for accelerated sell-off will trigger.
All illustrations above are self-explanatory.
5519-5669 points is the critical support that is expected to be broken down for mark-down stage.
The above bearish market structure will be negated only if the orange zone upper limit of 6700 points is captured convincingly; if 6700 points is re-captured, Philippines will continue a bull. Otherwise, PSEi and Philippines stocks should be regarded as Bearish-bias/Bearish-lookng and to sell/get-out on rebounds.
Emerging Markets:
Bearish
Bearish
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