PSEi lost 32% since peak of 8100 last 2015.
I was expecting a new high for the US, but the recent drop was so massive that all of Asia except Japan technically broke down from their Bull Market trendlines.
Wave counts in the US could have ended last night, and a "bear" rally could happen anytime soon. PSEi could even reach 6600 but technical traders may further sell on rally on recent news.
I have no plan to enter big time at this level, I know we are getting slightly cheaper valuation wise(17x PE), but seeing most Blue Chips getting killed from their 2009-2016 uptrend lines. Still recommending to further wait for US development.
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