DOW Daily and Weekly charts uptrend, with DOW Debt due until Aug 2, I feel that deb ceiling will be passed by Senate in order for the avoidance of the U.S. Defauly.
Uptrend continues with a twice visit to a resistance around 12700 level, and came back down on intradays, DOW Jones resistance is usually at the 12800 level, and a breakout of that level will let U.S. reach 13200-13600 level. Daily chart MACD and RSI is looking good, which may mean to increasing of debt ceiling by next week.
Buy on DIPS, as near as 12000 level. For a possible inverted head and shoulder pattern.
PE Ratio Check: 13.90
DOW Weekly charts long term uptrend. Is waiting for another breakout,till we see 52 week highs. Weekly RSI and MACD is still weak, and need to rally and breakout of the 12800 high to reach new levels.
PSE Market is getting hot and traders are leveraging their money to aggresively trade stocks. For the past few months/weeks, 10% of the stocks go up to new levels, while other 90% remains sideways or in short term downtrend.
Aside from TONS of money circulating on mining and various 52 high revisits like BDO,AP,ICT, FGEN,SMC,PX. Others are just watching the remaining 90% of the market with very low volume. I dont even know if people out there still make money on the other stocks which are in the sideways/downtrend.
I would like to congratulate MVP for making NBA All stars play vs PBA. Kudos to advertisments of MVP to MER,MWC,MPI,TOL,PX,TEL,PLTL, Red Mobile, Makati Med, Cardinal Santos Hospital, TV5, IBC13, MVP Foundation and others. I hope your stocks correct to a more "reasonable price" level. :)
HOLD and SELL on unexpected rally. See you in 4600 resistance.
PE Ratio Check: 15.83 (getting overheated)
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