StockWatch (Jun 15-19, 2009):PSEi

PSEi (Chart: Daily Resistance: 2630 Support: 2485/2350)

The index corrected for just 2 days and it went back to its upward movement which is very surprising. We are now very near resistance at 2630 which is the previous high and also the resistance line from Sept 2007. This coming week will be a make or break week to see if the resistances are overcome by the index. Still, it would be best to stay on the sidelines for the mean time until after the previous high is broken.