Market Outlook

As expected, the local bourse pulled back after once again teasing the 6,800.00 resistance—which further

Sessions may gyrate, as participants balance the prospects for improved business resumption that would support growth, against

Indicators are still slightly bullish, but the buying pressure is losing daylight.

Yet, with inflation still on the radar screen, expect some to seize on intra-day strength to

However, the 6,800 level once again acted as a resistance with the market quickly pulling back to the 6,600 level.

Technical breathers are seen, given the run-up since the start of trading for 2023.

Momentum continuity is seen, as investors take hope on the Fed’s consideration for gradual policy tightening to balance risks to economic growth.

One thing that the index has going for itself is that the consolidation has managed to

Attention is set whether the PSEi would continue its advance, riding on improved business resumption for 1Q23.

The local bourse closed flat at 6,566.39 last week.

Expect volatile sessions to start 2023 as investors digest lead headlines that transpired during the extended New Year break.

After the retest on the 100-day MA / 6,400 level, the PSEi quickly rebounded and is now settling above the 200-day MA.

Expect volatility as participants go on light trading mode for the final trading sessions of 2022.

Volatile sessions are seen, as players weigh on corporate earnings growth prospects in 2023, against the backdrop of monetary policy tightening.

Higher trend is seen for equities, especially with the briefing from TEL that clarified action steps that would be taken on