PSEI Update: Sept 11, 2014 – Selling as the market approaches 7,400? | Marvin Germo

PSEI Update: Sept 11, 2014 – Selling as the market approaches 7,400?

By: Marvin Germo | September 11, 2014

The PSEI still as as bullish as can be since February 2014 this year.  The uptrend as of this writing still is well intact and will continue to be an uptrend until proven otherwise.

PSEI Sept 11 2014a

Zooming into the chart we could see that selling is evident as the market draws closer at 7,400.

PSEI Sept 11 2014 2

There is a short term support forming at 7,176.  If the PSEI bounces off that level: 

We may see the market move up again and challenge 7,400 again.

If 7,400 is broken upward:

We may see the PSEI go to 7,600 over the short term.

If the PSEI drops below 7,176: 

We may expect the market to drop to either 7,138 or 7,050.  If it does hit those levels we must see if buying will continue to re-emerge.

Looking at other indicators MACD is still showing that the market is bullish however it is pointing that we may experience downward momentun over the short term.

I hope these charts help you find a reference point in your trades and would help you know when is the best time to come in and out when it comes to your investments.  My desire is to see you win in the stock market repeatedly over the long term and that you may find your own winning strategy that will make you profitable in the stock market! God bless you and have a great weekend ahead as you move forward towards financial freedom!

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