Market Outlook

As expected, after the market broke below the 100-day/200-day MA, the market retested (and briefly broke below) the 6,400 level.

Today would be a critical day for bulls as we will be seeing if prices can hold these levels for a chance to continue on next week or will we see a massive drop

Higher zones are in place, on assurances from US Treas. Sec. Yellen that the US banking system remains sound on the back of

After a short breather, the index fell from 6700 to 6300 levels. The index has now started falling from its last MA support.

Sentiment may take its cue from assurances given by Pres. Biden, that the issues on SVB & Signature Bank would be contained.

Expect volatility as participants assess regulators’ prime moves to isolate & address the capital-raising issue that has weighed on Silicon Valley Bank (SVB) Financial Group.

Will the bulls once again defend this area? The PSEI is now heading back towards its MA 100 support with MACD on a prolonged bearishness.

The bears continued to dominate last week with the PSEi closing below 6,600 anew.

The PSEI is now heading back towards its MA 100 support with MACD on a prolonged bearishness.

Local equities might be on weaker trail, as sentiment glides to Wall Street’s overnight drop (DJIA -1.66%, Nasdaq Comp. -2.05%).

Local sessions might test higher planes, with macro headlines being factored into prices. The focus would be on

The PSEI opened this month with bulls being able to defend 6,600 levels! This could mean that

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.