The Canadian Stock Market Outlook for Thursday was for the TSX Composite Index to experience weakness in the morning but close still positive on the day. By the close the index had closed almost unchanged with only a slight loss of 3.06 points, but there was a lot of action throughout the day.
TSX Composite Index Down 3.06 Points
The TSX Composite Index jumped near the open and broke to 13701 which ended up being the high for the day. From there the index began to set up a pattern of lower highs. This pattern continued throughout the day until over the lunch hour, the Canadian Stock Market fell back to 13630. This was a drop of 71 points intraday. The first drop brought in some buyers who managed to push the index back to above 13650 before a second round of selling pushed the TSX Composite Index back to 13630.
A second rally failed to break to a new high and kept the pattern of lower highs intact. The last hour though saw stocks rally to recover and they closed down just 3.06 points on the day to reach 13,668.29.
…..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for April 15 2016
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