The Market Direction Outlook for the Toronto Stock Exchange for Friday was for a lower close. However there was the Bollinger Bands Squeeze which on Thursday looked like it might try to push stocks higher. This could still happen but appears the more unlikely now after Friday. However much of Friday was an over-reaction to the unemployment news out of the United States. We hear about Canada’s unemployment shortly but investors fretted that the US employment report means the Fed has less room to maneuver when it comes to raising rates. It would appear rates could move within a few months with June seemingly the more likely for many investors. I had always felt rates would not rise until possibly the fall of this year but that’s just a guess, which is what everyone is doing right now including, it seems, the ones who really make the decision, the Federal Reserve.
Meanwhile, the jobs data shoved the US dollar higher and the Canadian dollar lower. It closed at 79.3 cents down 0.66 of a cent US. The yo-yo in oil continued with oil back below $50.00 a barrel to $49.61 (US). The action on Friday also drove the gold sector down 6.5 percent, the base metals down 1.8 percent, and even the telecommunications sector was down, while in general the financial sector was up by just 0.2 percent and not all components were up. This might be surprising considering higher interest rates usually mean better returns for financials. But on a day like Friday where selling is heavy, investors tend to dump just about everything.
The rest of this TSX Market Direction Outlook article is for FullyInformed Canada members. … read more.
For FullyInformed Canada members, here is the Market Direction Outlook for the Toronto Stock Exchange for March 9 2015.
TSX Market Direction Outlook for March 9 2015
FullyInformed Canada Members can login through this link to read the market direction outlook for the Toronto Stock Exchange for March 9 2015 or members can sign in to the full Canada members site here. Investors can join FullyInformed’s Canada section or read about the benefits of being a member through this link.
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