The outlook for the TSX on Thursday was for stocks to attempt to continue to rebound but then fall back. I was expecting a slightly negative close. Instead stocks rallied at the open, pulled back by 10:00 AM and then spent the remainder of the day pushing higher. By the close stocks moved slightly lower but still managed to hold onto a 47 point gains for a move up of 0.32%. Part of the reason for the gain was that after three days of selling the market was due to bounce and Wednesday’s afternoon had seen a rebound rally that still had more upside left. That is what led into Thursday’s opening rally.
For FullyInformed Canada members, here is the Market Direction Outlook for the Toronto Stock Exchange for May 15 2015
TSX Market Direction Outlook for May 15 2015
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