Trades may stay range-bound, as market players check on momentum improvement, after the FOMC & BSP’s move to raise benchmark rates by an expected 25bps.
Light sessions are seen, as participants balance Fed chair Powell’s remarks on future interest rate increases & issues weighing on the US financial system.
Sequel rallies are seen, as sentiment glides with US equities’ rise.
Sessions might score on the plus-side, on assurances over the local financial system’s stable capitalization.
Expect volatility for most part of the week, ahead of the FOMC & the local central bank’s policy meeting.
As expected, after the market broke below the 100-day/200-day MA, the market retested (and briefly broke below) the 6,400 level.
Today would be a critical day for bulls as we will be seeing if prices can hold these levels for a chance to continue on next week or will we see a massive drop
Higher zones are in place, on assurances from US Treas. Sec. Yellen that the US banking system remains sound on the back of
After a short breather, the index fell from 6700 to 6300 levels. The index has now started falling from its last MA support.
Sentiment may take its cue from assurances given by Pres. Biden, that the issues on SVB & Signature Bank would be contained.
Expect volatility as participants assess regulators’ prime moves to isolate & address the capital-raising issue that has weighed on Silicon Valley Bank (SVB) Financial Group.
Will the bulls once again defend this area? The PSEI is now heading back towards its MA 100 support with MACD on a prolonged bearishness.
The bears continued to dominate last week with the PSEi closing below 6,600 anew.
The PSEI is now heading back towards its MA 100 support with MACD on a prolonged bearishness.
Local equities might be on weaker trail, as sentiment glides to Wall Street’s overnight drop (DJIA -1.66%, Nasdaq Comp. -2.05%).
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