For the first time in the past five trading sessions, our index went under our 1890 support level yesterday and even managed to close the gap formed on the last trading days of October. Decliners continue to beat gainers 8 to 1. Volume slightly inched up to nearly 800 million shares that exchanged hands as sell offs continued to keep all sectors in the red. Foreigners are net sellers once again. AC and JFC led the stocks sold down while TEL remains the favorite of foreign buyers.

After breaking our short term support at 1890, we see 1756 to be the next support. Although our MACD is still dominated by the fast line, the momentum may not hold for too long as we see both lines closing and bending down slightly towards the south. RSI is still oversold, but above the 30 mark.