The past few days was a horror. We were not spared by the sell-off of the DJIA (Dow Jones Industrial Average) for the past week. People say they see a triple top in the PSEi. This could only mean a bearish move about to happen soon in the market. However, there is a silver lining in the dark clouds looming over our local bourse. What we see as a triple top can as well be a triple bottom -- in formation. I just hope that it is the latter. If not, then I expect a breakdown going towards my perceived second level of retracement. I am just crossing my fingers that tomorrow or the day after tomorrow, we would rebound and slowly head North-East. For now, CASH would the best stock. If you're gutsy, then PWR can be a viable option.
*PD: I have PWR. I am not hyping. Trade on your own.
What could be a triple top can also be a triple bottom...
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