Stocks ended mixed with more gainers amid losses in neighboring markets. Bulls outnumbered the bears as our market managed to close with slight gain of 9.25 points, but still below the 2000 resistance level. Volume remains to be thin with 42 stocks unchanged, while 50 stocks lost ground. Weak sectors included property, financials and holding companies, who tracked poor global economic outlook of these industries. Foreigners continue to unload more shares while taking up more positions in TEL, the most profitable local company listed. TEL is also the most active for the day.

The MACD of our index still points up to a bullish direction with the fast line keeping up its momentum over the slower one. The RSI is now above 40 level. We expect the 50 median line to be a resistance in a bear market. We see 1890 as our short term support and we expect more sideways trend trading between this level and the 2000 psychological resistance.