The outlook for the Toronto Stock Exchange for Wednesday was for stocks to remain weak but with a slight bias up. There was a brief period when the TSX was positive but most of the time the index was negative and in the end, the TSX fell lower by 51.66 points or 0.33%.
The market drifted lower all morning and through the lunch hour. By 1:30 it was near the session lows trading as low as 15,428.34 which is within 28 points of the important 15400 level which is also by the 50 day simple moving average (SMA).
The Fed news out of the US got some investors enthused about stocks and they bought and pushed the TSX to the best levels since the open but as the late afternoon arrived, investors took profits and the TSX moved lower closing at 15,458.88 about 30 points above the session lows.
The rest of this TSX market direction outlook article is for members.
TSX Market Direction Outlook for Sept 18 2014
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