For FullyInformed members here is the TSX Composite Index Outlook for Wednesday Mar 23 2016.
For Tuesday the TSX Composite Index put on a decent rally in the afternoon and by 2:35 the index was at 13565. Sellers then stepped in and during the final hour and a half the index tumbled 67.60 points on the day. This wiped out the gains from Monday.
TSX Composite Index Finished Down 67.60 Points
The two-day TSX Composite Index chart below set for five-minute intervals shows the trading range the TSX has been caught in. The TSX Composite Index has been unable to break above the 13560 level but has failed to close below the 13500 level, until today. The past two days shows the rallies both days to the 13560 level and then the close today below 13500. Today’s rally was interesting as the market opened lower due to the attack in Brussels and then immediately began to recover. The morning recovery though was on poor volume and the TSX pulled back and fell to the 13500 level by the lunch hour.
This brought in buyers and a rally lasted from the noon hour until shortly after 2:35. The market recovered to the highs from Monday only to give it all back in the final hour and a half of trading. The close was particularly nasty with the final few minutes seeing large volume trades and the TSX Composite Index closed below 13500 to 13,493.49.
The past two days of trading has basically produced a sideways market.
TSX Composite Index Market Outlook for Mar 23 2016
The rest of the TSX Composite Index looks in-depth at the technical indicators, the advance decline numbers and the outlook for tomorrow. Thereis also the market direction portfolio update and a look at the medium term trend.
FullyInformed Members can login through this link to read the latest market direction outlook 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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