For FullyInformed members here is the Market Direction Outlook for the Toronto Stock Exchange for Thursday Dec 10 2015.
The TSX started the day with a rally that within 10 minutes had the TSX up over the 13000 valuation. Stocks continued to rally and pushed above 13130 by 10:25 and then commenced to decline.
The decline was steady with no real buying to push the index back up and try to challenge any of the early morning highs. Instead stocks fell lower until by 12:30 they were down at 12,877.61. From there they rose slightly into the close with the TSX ending the day at 12,937.59 for a small gain of 15.12 points. The best that can be said for Wednesday was that the low during the day was not as low as Tuesday’s low.
Part of the problem on Wednesday was that oil rallied early and helped boost investors to risk capital in energy shares. The US dollar declined on Wednesday and commodity prices rose slightly which again brought buyers into mining and gold. But oil then turn around and headed lower ending up at the lowest level since February 2009. As explained in last night’s TSX Market Direction Outlook, if oil falls so will the TSX and that is exactly what happened today……. the rest of the TSX Market Direction Outlook is for FullyInformed Members.
TSX Market Direction Outlook for Dec 10 2015
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