Yesterday’s QuantDS data filtered a REVERSAL for Philippine Stock Exchange Index but was not able to close in a green light. Some issues are starting to look almost oversold. The Price and PSEI trigger (7778.80) is just one “tambling” away. And, for today’s data a reversal again.
Rather applying the saying, "A rising tide lifts all boats", in its linear meaning, we may consider it in a non-linear one. What is its nonlinear meaning? May I present it in modified version of the old folks saying, "A tsunami lifts all boats and displaces them"?
A dry tide, series of wavy market waves, displacement of large volumes from foreign to local investors, political news, and economic uncertainty. The QuantDS data simplified what’s happening in the market. A buy and hold recommendation with only 17% certainty. TMI at a mere 15 points coincides with NBS (near bottom support) status. The question is "Did the index really hit the bottom last week?"