After two days of strong rallying the Canadian Stock Market tooka breather as the TSX Composite Index was overbought and pushing against the Upper Bollinger Band for the second straight day.
TSX Composite Index Rises 7.43 Points
By the close of the day on Thursday the TSX Composite Index was higher by just 7.43 points to close at 14,847.92.
With the TSX Composite Index sitting at 15 month highs, a stalling of the intense three-day rally is not unusual. The Index itself is pushing against the Upper Bollinger Band and stayed positive despite a 2% drop in oil prices and a jump higher in the US dollar.
Here is the Canadian Stock Market outlook for Friday Oct 21 2016 and an update to the TSX Market Direction Portfolio. I have also included trade ideas that I am considering for Friday……………………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for Oct 20 2016
FullyInformed Members can log in through this link to read the latest Canadian Stock Market Outlook for tomorrow for the TSX Composite Index or they can sign in to the full members site here. Non-members can join here or review the benefits of a membership.
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