Last week the TSX Composite Index opened at 13,235.25 on Monday March 7. That was a big up day for the TSX Composite Index.
The following day, March 8 the index was weak and closed lower at 13,311.05 and the closing candlestick on Tuesday indicated the market was extremely overbought which, considering that the TSX Composite Index had moved higher for 8 days in a row, was to be expected.
The outlook remained positive despite the overbought condition and Wednesday was another up day for the TSX Composite Index.
Again on Thursday, March 10 the index closed higher but volatility continued to plague the TSX Composite Index and you can see in the TSX Composite Index Chart below that the market had another bearish candlestick develop on Thursday at the close.
Despite this, technical indicators were enough that the TSX continued its advance with a big push on Friday which closed the TSX Composite Index at 13,522.
TSX Composite Index to Mar 11 2016
TSX Composite Index Gained 286.75 Points
For the second week of March the TSX Composite Index gained 286.75 points for a rise of 2.3% for the second week of March.
TSX Composite Index Chart Of Rally Gains
Since the bottom of the sell-off on Jan 20 2016 the TSX Composite Index is up 17.26% for a gain of 1990.78 points. This makes the TSX the best performing index for 2016. This goes without saying, that the TSX Composite Index started off though, from a level of 11531.22 reached Jan 20 which was a level the Toronto Stock Exchange had not reached since August 2012, 3 and a half years earlier. Since the second market low on February 11, the TSX Composite Index is up 1015.50 points for a gain of 8.12%.
TSX Composite Index Chart to March 11 2016
TSX Composite Index For The Third Week Of March 2016
For the third week of March 2016, the TSX Composite Index has recovered all of 2013 and is now trading at levels the market was at in January 2014….. the rest of TSX Composite Index – The Week Ahead article including trade ideas is for FullyInformed Members.
TSX Composite Index – The Week Ahead – 3rd Week Of Mar 2016
FullyInformed Members can login directly through this link to read the latest TSX Composite Index – The Week Ahead outlook, trade reviews and trade ideas or they can sign in to the full members site here. Non-members can join here or read about 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.
Market Direction Internal Links
Profiting From Understanding Market Direction (Articles Index)
Understanding Short-Term Signals
Market Direction Portfolio Trades (Members)
