ACCORD CAPITAL EQUITIES CORPORATION

GF EC-058B East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, PHILIPPINES 1605 (632)687-5071 (trunk)
DAILY REPORT _for December 7 2010
PSE Index Pts Change % Change Total Volume Total Value Advancers Decliners Unchanged
4,223.12 46.64 1.12% 739.658M Php6,303.76M 73 52 40

Daily Wrap:: Dec 6_Monday SECTOR INDEX % CHANGE VALUE

ALL 2,893.68 1.12%
THE PSE Index ended the session at 4,223.12, adding 46.64 FINANCIAL 980.60 1.49%
points or 1.12% and extending the market's rebound off a INDUSTRIAL 7,043.55 1.36%
recent low to four-days. The broader All Shares Index HOLDING FIRMS 3,512.24 0.87%
duplicated the Main Index' advance and only the Services PROPERTY 1,573.13 1.03%
SERVICES 1,512.62 -0.17%
sector slipped.
MINING & OIL 12,804.67 3.19%
Asian markets were mixed with Japan's Nikkei 225 dipping by TRADES 13,406
about a quarter-percentage point and Hang Seng rising four- BLOCK SALES
FOREIGN TRADES
tenths of a percent. In Php Millions As of 1213H 12/06/10
Advancers dominated decliners, 73-to-51, while 40 counters ASIAN MARKETS
COUNTRY INDEX LAST % CHANGE
were unchanged.
JAPAN TOPIX 879.85 0.07%
A total of 740 million shares with an aggregate value of JAPAN NIKKEI 225 10,147.45 -0.30%
CHINA HANGSENG 23,520.25 0.86%
php6.303 billion changed hands. The summary of net foreign
CHINA SHANGHAI 2,844.63 0.08%
transactions are not yet available at this time. TAIWAN TAIEX 8,710.28 1.00%
US market futures, however, are in the red. However, Fed SOUTH KOREA KOSPI 4,148.91 -0.28%
THAILAND SET 1,034.06 0.20%
Chairman Ben Bernanke's hints of further easing in light a still
INDONESIA JKSE 3,717.39 0.57%
poor jobs market may cause some ripple tonight. Europe is INDIA BSESN 19,996.93 -0.13%
likewise seen to open the week on the slow lane with major SINGAPORE Starits Times 3,198.60 0.82%
markets' futures down. MALAYSIA KLSE 1,500.73 -0.02%
VIETNAM HO CHI MINH 465.56 0.26%
There are no major economic data scheduled for release in the
US tonight. Important indicators of consumer credit is due out on Tuesday while the regular initial jobless claims will be released on
schedule Thursday.
On the other hand, the Korean and Irish concerns appear to
have taken the backseat, at least through Monday.
Analysis & Outlook

There is very little to look forward to in terms of economic news

both on the homefront and abroad. We thus turn to the technical
charts for guidance.
Today's action sustains the break of the near-term downtrend line,
further narrowing losses off the all-time high. Even as STO (10,3,3)
warns of overbought conditions, MACD has just freshly broken the
signal line while OBV does a marginal break of its own negative
slope. The index has moved above all period EMA's. Bias moving
forward remains generally positive.
Major support remains at the 3,970-4,100 range with an
intermediate level at 4,170-4,200. Resistance is at 4,250-70. We
continue to commit to blue chip and second line counters for the
balance of the year.

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