Interesting...

I was expecting some blood today given that the Dow was down by 112 points. The PHISIX seemed very vulnerable to a correction already with the doji it formed yesterday. Today, however, we were able to close the day at the highs with 22 points up. If we look at individual issues though, we'd see that their performance is mixed. Issues like ICT, DMC, AC, FLI, EDC, RLC were either unchanged or down. On the other hand, issues like AEV, BDO, JGS, CHIB, PNB, DGTL were able to close the day up. 

I just have to give it up to CHIB. It really is exceptional. Ever since it became part of the index, it just never looked back. In fact, it has climbed around 100 pesos ever since then. This may be attributed to the fact that CHIB isn't really that heavy. GLO is even more expensive but it has a thicker sell posting than CHIB. Funds may be wanting to add this in their portfolios so they just bid prices up. 

 

Aggressive Buying + Thin Sell Orders = Uptrend

I noticed something though. Today, CHIB spiked up. It also hasn't yet retraced; it may have paused, sure, but it has not yet retraced ever since May 6. A spike near the top indicates an acceleration of its uptrend, which possibly signals the end of its uptrend, at least in the short-term. I will give it one or two days to find a top. Then, I think, a correction may be due to CHIB. I think lang ha! I'm actually looking to buy this one so I'm trying to determine the right timing. Let's see if my analysis is right. If CHIB still continues to defy gravity... HANDS DOWN. Hahaha! 

There is something different with the move of DGTL. Notice before, every time it reaches 1.46, it encounters resistance and fails to close at its highs. For two days now, it has been attempting to break this resistance. Sure, it hasn't broken above this resistance yet but this time, it was able to close the day near its highs. Volume has not been this big in a long time and indicators seem to be bullish. Could a breakout be finally be happening in the next couple of days, if not tomorrow?