Philippines

The Philippines stock market among Asian markets reflects what has been going on here. Most of them started a 3rd wave recovery rally that is quickly taking back losses. This after an A-B-C bear market from the 2017 top. 2013 to 2017 was one long expanding ending pattern that eventually resulted in a deep correction. The decline has not fallen below the 2007 top and could be a 4th wave in the long term progression. The Asian bear market between 2018 in 2020 could be associated with a rising dollar environment that usually hits emerging markets. A change in the dollar trend is an ideal setup for the next expansionary phase.