Market Outlook

After a huge pullback coming from 6,700 yesterday, the index has formed a bullish doji and managed to stay above 6,600 levels.

Movements might stay range-bound, as participants digest 1Q23 results from select large caps.

Participants might monitor possible continuity of yesterday’s selling, given local equities’ recent rise.

Sentiment might glide to Wall Street’s ascent Friday (DJIA +1.65%, Nasdaq Comp. +2.25%), as well as

The index continues to try to break above its resistance at 6,684. Support levels are at 6,621 and 6,440.

Market investors will digest the Fed’s widely-expected 25bps rate hike move, and balance Fed chair Powell’s latest statement for clues on its sequel move.

The index continues to break above its previous resistance level with the index now finishing at 6,672 after a bullish run.

The only counter so far is on the current turnover, as some might be bidding for time ahead of results from the Fed meeting.

The index is trying to break above 6600 levels. Support levels are at

Momentum is expected to continue, as focus shifts to latest inflation in May, 1Q earnings as well as dividend season for several listed firms this May.

The index is trying to break above 6,600 levels.

Sentiment might sway to Wall Street’s overnight climb (DJIA 1.57%, Nasdaq Comp. +2.43%), on upbeat quarterly results from select large caps.

Tight trading zones may continue, as participants digest 1Q23 interim results & capex guidance from select listed firms to get a general feeler on sector trends.

Barely a few points shy to breaching the 6,600 mark, some might seize on this strength to cash-out, while waiting for clearer guidance on

The PSEi rebounded last week, however, value turnover averaged only at P3.8bn.