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On the PSEi Daily chart, we look back on the past Edsa 2 coup which toppled Joseph Erap Estrada during the q1 2001 coup.  We all know by now that the market hates uncertainty, and without looking at charts, we may know that having coup is not a confident reason to go long. Not shown in the chart, after 1998 Erap's ascendancy to the presidential throne, the market collapsed from around 2,300 all the way to 1100. This was more than 50%.  For some reason around September 1998, the market rallied strongly back to 2,600.  This rally brought with it penny plays like The BW controversial runup, which is depicted as BW Time.  BW, now FAIRmont, spiked from 29 up  to 105 then back down to 29 in just one month, and began declining steadily from there.  Read more... (311 words, 9 images, estimated 1:15 mins reading time)

PRICE AND TURNOVER
Close: 12,381.02
Change: TODAY +96.72 (+0.79%) WTD +32.81 (+0.27%) YTD -883.8 (-6.66%)
Volume: 293,394,304

MARKET BREADTH (NYSE)
Net adv/dec issues: +649
Net new highs/lows: -122
Net up/down volume: +1,569,969,309

TECHNICALS
Major sideways trend, intermediate downtrend, short term consolidation
Immediate Support 12,000 Resistance 12,800
Core Support 12,000 Resistance 14,000
A potential rounding top has developed in the major trend, symmetrical triangle in the short term.

OUTLOOK
The market opens slightly higher at 12,281 but quickly drops below the previous close 30 minutes inside the trading session. It stays in the red for the large portion of the day hitting a low of 12,155 until a 240pt snapback occurs in the last hour of trading that coincides with a CNBC report catching wind of a recapitalization deal for trouble bond insurer Ambac Financial that they say could be announced as early as Monday or Tuesday.  Read more... (248 words, 10 images, estimated 60 secs reading time)

PRICE AND TURNOVER
Close: 3,080.24
Change: TODAY -95.82 (-3.02%) WTD -102.61(-3.2%) YTD -532.74 (-14.7%)
Value: 2,542,198,000

MARKET BREADTH
Net adv/dec issues: -84
Net up/down volume: -852,536,450
NFB: TODAY -377,424,756 WTD -567,810,001 YTD -12,986,913,213

TECHNICALS
Major consolidation, intermediate downtrend, short term downtrend.
Support 3,000 Resistance 3,350
A potential double top has unfolded in the major trend (weekly chart).

OUTLOOK
The index takes a beating today declining by 3.02% with below average turnover. It opens shy of yesterday's close, heads south without looking back, and closes at the low.  Read more... (548 words, 10 images, estimated 2:12 mins reading time)

OV daily suggests bounce from lower part of uptrending range.  Given the strength of oil at $100 last night and speculatives being back in play, a retest of .035 (or above) is likely.  All factors like rights and Galoc first oil in the next month not factored into technical chart.