The Canadian Stock Market outlook for Tuesday was for the TSX Composite Index to move higher. With selling pressure building into the afternoon on New York markets, investors pulled back from buying which lowered the gain for the day on the index. By the close of the day the TSX was still positive and closed up 23.61 points adding to Monday’s gains.
TSX Composite Index Rises 23.61 Points
The 5 minutes intraday chart below shows today’s action. The morning saw a strong push higher with the TSX reaching 13980, within 20 points of breaking through 14000. By noon though, the US markets were pulling back and investors pulled back from buying which sent the TSX Composite Index lower. By 2:30 the index was down to 13880. A mid-afternoon rally pushed the TSX higher and by the close the index was at 13917, up 23.61 points and within 83 points of 14000.
TSX Composite Index Momentum
Momentum for the day was mixed with the morning positive and the afternoon shifting to negative as the market fell from 13980, for a 100 point drop to 13880. The close saw positive momentum, but it was weak…………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for May 18 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.
Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
Internal Stock and Option Trades Links
Put Selling Strategies For Members
Covered Calls Strategies For Members
Profit And Income Strategies Index
Stock and Option Strategies For Members
Stock And Option Trades Explained For Members
Ask A Question About A Trade You Are In