The Canadian Stock Market outlook for Friday June 3 was for the TSX Composite Index to close higher.
The big news on Friday though came with the index rising 89.79 points and closing back in bull market territory.
TSX Composite Index Rises 89.79 Points
On Friday the TSX closed up 0.64% marking a 20% gain from the January 20th low. This is officially a bull signal for the TSX Composite Index and most of the rally was the result of a decline in the US dollar and a big jump in gold stocks along with other commodity sectors.
The TSX Composite Index has been plagued by a rising US dollar that has dampened the price of many commodities, in particular oil. This sent the Canadian Stock Market into a bear market earlier this year. Since the January 20th low for the TSX Composite Index, the Canadian Stock Market has been climbing daily until now it has pushed through the resistance at 14000 to move back into a bull market………the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for June 6 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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