The PSEi managed to be the one of the few winning markets in Asia to close in the green after index heavyweight TEL ended up yesterday.  The stock gained 90 pesos yesterday despite the fact that its US counterpart PHI lost ground.

Back to the index, volume improved to a little to go above one billion shares. But decliners significantly out numbered gainers 1:3 with 43 stocks remained unchanged. All sub-indices were bearish except for the service sector. Foreigners were net buyers after weeks of selling.

Our market remains less volatile and is going sideways even with the slight improvement in volume. Momentum and the RSI are unchanged as investors stayed on the sidelines waiting for more economic outlook and data. The intraday chart is bullish even after markets in the West ended bearish.