Market Outlook

Momentum is still being flattish as RSI starts to consolidate indicating that the index may

Moving averages are still bearish with the index nearing solid support at 6,000 levels.

The mood might remain tentative, pending the Fed’s sequel move on benchmark interest rate.

Movements might stay sideways, possibly with another downward bias, ahead of the Fed meeting.

Participants might adopt a wait-and-see stance for now, to check if supply pressure from FTSE rebalancing has already subsided.

The index closed lower at 6,208.40 as the index moved in a range.

The market might see similar last-minute lift, while trading within a tight range for most part of the session.

The index closed lower at 6,183 with bears still selling on a range, ending the day back to nearly the month’s low.

Choppy sessions are seen, as sentiment might glide to Wall Street’s overnight weakness (DJIA -0.57%, Nasdaq Comp. -1.06%) on renewed concerns over

Participants may need to sift through August’s latest inflation data (+5.3% vs. July’s 4.7%), especially on guidance from the local central bank on

Market participants will focus on movements in select index stocks, that may include the tender offer progress in MPI.

The index closed lower at 6,175 with bears still selling on a dead cat bounce, ending the day back to nearly the month’s low.

Some might take interest in heavily-beaten large-caps that led yesterday’s descent.

Expect volatility with the month-end portfolio repositioning.

Sentiment might glide to Wall Street’s overnight incline (Friday & Monday), as views are weighed on Fed chair Powell’s statement plus upcoming inflation data in the US.