Wake Me Up at PSEi 3000

A little market speculation for you guys at PiliFinance.. By speculation, we mean predicting market upswings, downturns, predicting the market in general. We reiterate that speculation conditions are different from prescribed investment levels, and for speculative purposes only.

Here is a spot view of the Philippine Composite Index or Philippine stock market index since 2000, courtesy of COLFinancial.com.

If my Fibonacci measurements are correct, we can see that the last bull run from 2003 to 2008 dropped to 76.4% level before it started the climb for the next bull run of 2008-present day. 

IF the general market will continue to drop from present day levels to a bear market, judging from the previous Fibonacci measurements of the previous bull run, the bottom will be at the 3000 level, equivalent to 76.4% drop of the previous bull market.

Other possible bounce points are at the popular 38.2% and 61.8% levels or 5,300 and 4,000 levels respectively.