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The PSEi struggled to stay afloat this week, with another bearish session keeping the index in the red for most of the trading day and ultimately closing just below the 6,300 level.

Participants may adopt a wait-and-see mode for now, given supply pressure that typically comes out on intra-day ascents.

Gauges might be poised for recovery, as buyers aiming to position on lows find the 6,300 zone attractive.

The PSEi pulled back by 1.63% dragged by heavy foreign outflows as it retested key resistance zone around the 6,600 to close at 6,496.32 (-107.49).

Sentiment might sway to Wall Street’s sharp retreat Friday, as strong jobs data is supporting views for status quo from the Fed on its widely-watched interest rate policy.

The PSEI posted a modest intraday gain of +0.23%, closing just above the 6,500 mark.

Another range-bound session might be seen, with US markets on National Mourning for former Pres. Jimmy Carter.

Buyers may keep a close watch on local gauges’ movement, to check if supply pressure remains present prior to taking positions in select large caps.