Market Outlook

Market participants will weigh if sentiment would glide more to prospects for faster Fed rate hikes against tamer inflation results for February at home.

Focus will be on Friday’s inflation, and sequel measures that will be taken by the local central bank on its monetary policies.

March starts with the bulls holding well in 6,600. MAs are still mixed with weak attempts to raise prices up above 6,600.

Sessions may advance, taking its lead from Wall Street’s overnight incline Friday (DJIA +1.17%, Nasdaq Comp. +1.97%).

The PSEi closed below the 6,600 level earlier last week, forming a lower low.

This week would be interesting to watch as the index has been forming doji candles for two days now which could mean either a consolidation or a big downside if price cannot still go above the MA 260.

Select sectors might be in focus, specifically leisure/gaming bets, given BLOOM’s earnings results.

Expect volatility to prevail, ahead of the release of February’s inflation data.

Caution would likely be thrown anew, given yesterday’s MOC-sell-off (especially for holdings & property).

Attention would be on possible recovery for local gauges, as sentiment trails Wall Street’s overnight ascent, plus possible consideration for

As the market closed on Thursday due to a holiday announcement, the PSEI ended on a bearish run this week as it goes towards the middle of 6600 levels.

Volatility may prevail, as the market balances expectations for tightened monetary policies versus recovery prospects.

The PSEi closed below the 6,700 level, forming a lower low.

Participants will monitor if supply pressure would continue, having weakened below the 6,700 zone.

Expect supply pressure on intra-day ascents, as most factor-in tighter monetary policies to address inflation.