The Canadian Stock Market on Thursday had technical strength to move higher. The biggest drag on the index would be a major sell-off in the US markets.

TSX Composite Index Chart -Intraday Oct 13 2016

This is exactly what happened intraday. When news of the drop in Chinese Exports hit the markets the TSX collapsed at the open falling over 100 points to open just above 14500. Within a few minutes the TSX Composite Index had broken through 14500 and reached 14472.78.

By 10:10 the TSX Composite Index had managed to move back above 14500. The rest of the day was spent with the index climbing higher and breaking back through 14550 and then as crude prices moved back above $50 a barrel, the index broke through 14,600 reaching a high of 14,672.25.

TSX Composite Index Chart - Intraday for Oct 13 2016

TSX Composite Index Chart – Intraday for Oct 13 2016

TSX Composite Index Rises 24.74 Points

The TSX Composite Index fell back in the last hour of trading on Thursday but still managed to close up 24.74 points for a small gain of 0.17%. It closed at 14,643.71 and managed to recover the important 14500 technical support level.

It was an impressive rally which at one point from the lowest level, rallied 200 points to turn the market from a large drop back to a gain.

Here is the Canadian Stock Market outlook for Friday Oct 14 2016 and an update to the TSX Market Direction Portfolio ……………………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.

TSX Composite Index – Canadian Stock Market Outlook for Oct 14 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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