Market Outlook

Selective buying might provide the boost on local gauges, as investors seize on this lull to position in equities.

Sentiment might glide with the region, on optimism over China’s economic stimulus plan.

Volatile sessions are seen, as participants await key issues that will be presented in Pres. Marcos, Jr.’s SONA, timed with the US Federal Reserve’s meeting this week (25-26 July).

Sessions might remain range-bound, as participants heed to 2Q23 corporate earnings.

Market watchers will monitor the PSEi’s staying power above the 6,500 zone, as some are likely to

The index sharply rose, closing at 6,578 after starting the week at 6,300 levels.

Slower US CPI data may lend optimism for equities, reinforcing expectations on

The index closed at the lower end of its range after peaking at 6,430 and ending trading at just slightly below 6,400.

The 6,400 level proved to be a strong support as the PSEi bounced back from the said level last week.

Expect volatility to continue however, given debates on how further economic growth will be supported for the remainder this year.

While movements remain range-bound, expect volatility for most part of the week as

Eyes are set whether the market would be able to continue momentum build-up based on yesterday’s advance, as some might be inclined to utilize this strength to exit.

MACD indicates that there is still selling pressure for the market as MACD histograms

The index closed at 6,461, rebounding from earlier losses in the trading session which saw the index fall below 6,400.

After the market failed to break above the 200-day MA, the market retested and briefly traded below