The Canadian Stock Market outlook for Thursday was for possible dips, especially if oil declined, but a probable positive close.
Indeed it was a roller coaster day for the TSX Composite Index.
TSX Composite Index Rises 20.72 Points
By the end of the day the TSX Composite Index had risen to 14,514.52, but it was a choppy day of trading.
TSX Composite Index Chart
The TSX Composite Index Chart below shows the roller coaster ride from Thursday. The first dip took the TSX Composite Index negative to a low of 14,494.93 just below 14500. As explained yesterday and in prior articles, these dips are going to be bought into. This is what happened as soon as the TSX Composite Index fell below 14,500. The index jumped back and rallied on decent volume to 14,558.12. That ended up being the day’s high. A second pullback sent the TSX back below 14,520 but buyers didn’t wait for the index to fall much further. They jumped in again, but volume was light. The second rally attempt failed by 3:00 PM and the TSX Composite Index moved lower into the close but still stayed positive with a gain of 20.72 points.
………………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for July 15 2016
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