PSEi 3,426.95 -2.40 pts. -0.07%
value php 2,927,956,631.50
Dow Jones 10,467.16 -30.72 (-0.29%)
S&P 500 1,101.53 -4.60 (-0.42%)
Nasdaq 2,251.69 -12.87 (-0.57%)
Wall Street traded within a 2% range, opening about 80 points higher, then cascading off a cliff to sink down 100 points, only to gradually recover. Data showing Fewer jobs lost failed to continue the rally that gave the Dow more than 7 percent in July, putting it on track to post the biggest monthly percentage increase and best July gain since July 2009, when it rose 8.6 percent.
The PSEi traded within a narrow range. From up 5 near the open to down 7 immediately after, then about flat to sideways until the close.
Best overall gainers were speculatives WEB ISM, each gaining about 6 to 7% to 13.50 and .042 respectively. The high flier the past two days, SLI hit a sly hy of 1.45 but created an ugly chart pattern called hanging man or doji when it closed 1.36, usually a confirming the top that overbought RSI has registered earlier.
Today looks like a slim chance of reversal for PNB, or more like arrested descent. Deutsche continued with 1m shares sold, and he was joined by a few from thing on, ATR, and jpmorgan. on the buying side were macquarie, also deutsche, valuequest and col. Pwede Na Ba?
Breadth was on the decliners side: FLI sinks back to 1.01, MPI to 2.77, ORE 2.65, MEG 1.50, MER FGEN EDC, also down slightly. The big caps ALI AC SM SMPH were generally flat.
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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