Philippine Market (PSEI): Consolidation
The latest PSE Index level is right within the Kumo cloud, which signifies consolidation. It was attempting to break out, but may take a few more days. I'm still looking at topping up this week as long as it won't break out too quickly.
Things Are Looking Positively for PH Market
- US Dollar weakness means stronger Philippine Peso
- Inflation has been cooling down - improvement from previous highs in 2023
- Possibility for Lending Rates to go down - There is room for rates to go down to help spur the economy. Seems like there has been an overshoot of rates post-pandemic recovery.
- Insulation from Trump's tariff threats - PH is not a target
- May Midterm elections - activities help boost the economy (i.e. consumption)
Political Noise Not (yet?) Affecting the Market
It's good to see that the PH Market is unbothered with the ongoing political noise. While it is still a risk as destabilization plots is a possibility, I hope the people would see that these politicians are replaceable. They come and go. No need to be loyal to any politician. Let's vote based on merit and capability to craft relevant and effective laws for this country. :)
This is not financial advise. I use this as my trading journal/notes for ongoing reference for the succeeding week. The above technical analysis (charts) are just used for guidance while studying market behavior and trying my hand on market timing. Please Do Your Own Research (DYOR).
- Stock Charts from Investagrams