It has been a long time since I posted PSEi chart.
Our last play earlier this year was to enter 5800-6000 but was able to unload very early around 6700-6900 on almost half of my holdings. I got scared when we freely moved 7200-7400 without concrete resistances(it is the area where 2013 peak and most people got stucked). PE also reached 21.5x at 7400.
We laid out 11months uptrend support since PSEi bottomed at 5800. The 7400 peak could be a double top pattern.
Important support to look into is the uptrend line since 5800. It should be around 7000 where strictly speaking must hold else medium term trend could be to the downside.
Market is still 7000 level as of 2pm 10/13/2014. But in case it breaks below 7000.
Immediate supports will be 6900 and 6700, and technically speaking, it could be as low as 6400.
2009-2014 Bull Market uptrend line is around 6000. If there is a chance it goes to that level, it is a no brainer ALL-IN.
Goodluck. Cheers! :)
*maintaining 85% cash
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