Post #4: PSEi Double Top?

charts by www.bigcharts.marketwatch.com

I really don't like double top patterns. I believe it means we failed to go higher twice and might find it more difficult to break the resistance the third time. We really need a strong fundamental catalyst to make that happen.

I remain cautious and maintain risking part of my capital to the minimum. Index closed the week at 6975, a few points below my PSEi 7000 support. The index  should go back above 7K or else I'm pulling the plug.

Notes: I still have a few positions  in $MCP but is watching if it holds P4.00.