Market Outlook

Attention would be on the local central bank’s policy meeting, with consensus for a status quo.

The PSEi closed at 6827.92, slightly below its intraday high of 6848.57, indicating some volatility during the trading day.

Sentiment might glide to Wall Street’s weakness, on fears for possible slight uptick in domestic inflation for Feb.

The PSEi surged by +2.13% w-o-w to close at 6,850.16, extending its winning streak for the third week.

Participants will monitor continuity of yesterday’s trend, or for supply pressure to start coming out ahead of the Lunar break.

Participants will monitor continuity of yesterday’s trend, or for supply pressure to start coming out ahead of the Lunar break.

The market is trading above key moving averages (50-day, 100-day, and 200 -day) and is poised to revisit the next resistance level.

Attention is set for the 6,800 target, having moved past 6,700.

The PSEi concluded yesterday’s session with a -23.42pts decline to 6,623.01.

Sentiment might glide to Wall Street’s renewed strength, as participants heed for earnings guidance on trajectory this year.

Participants will monitor if sentiment would glide to Wall Street’s latest retreat, after Fed chair Powell doused-off expectations for a rate cut in March.

Another volatile session is seen, as participants take on feelers if sentiment would sway to Wall Street’s ascent, or for profit-taking to prevail.

Expect volatility in the coming sessions, with January’s month-end portfolio closing.

The PSEi surged by +2.81% w-o-w to end the week at 6,686.09.

Gravestone doji spotted as the index snapped its 3-day winning streak.