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The PSEI is still clearly under the spell of the bears.

Selective trades may prevail, as investors check for possible improvement in the previous sessions’ frail turnover.

Sessions might mimic yesterday’s movement, ahead of the Independence Day break tomorrow.

The PSEi rose by 1.33% w/w to close at 6,518.76 (+85.66 pts).

Participants’ attention may be drawn to the Federal Open Market Committee (FOMC) meeting on 11-12 June, within a shortened 4-day trading week.

The index has been consolidating around the 200-MA areas, as it closed yesterday on a positive note.

Participants would monitor continuity of the latest ascent, while heeding for those that might opt to lock-in gains.

Local gauges might move above the 6,550 mark, with 5-month inflation averaging 3.52% (vs. prior year’s 7.52%).