The Main Philippine shares index extended its slide to a third week, adding a huge -404.21 points to the -102.74 points combined loss in the two immediately preceding weeks. More importantly, the PSEI breezed past ALL short-term Fibonacci retracement lines in the last four sessions, breaking previously seen as strong support levels.

PE ratios fell as a consequence, with a good number going below 10x trailing earnings. Brazil’s BOVESPA, London’s FTSE 100, France’s CAC40, Germany’s DAX50...
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