The most interesting aspect of Tuesday was how the Canadian Stock Market continued to hold its gains. Despite falling to 14,711 during the day the TSX by the end of the day was down just 8.95 points and continues to flirt with its 15 month high. Gold was one of the major commodities to keep the TSX mining sector positive with Barrick Gold Stock (ABX) up 4.5% to $24.66 by the close. Even financials which were weak at times, managed to recover in the last hour from earlier lows.

TSX Composite Index Falls 8.95 Points

In general the TSX Composite Index is overvalued. It is trading at multiples much higher than the S&P 500 and the rally since mid-September has recovered almost 600 points to October 24.

Since then the TSX is struggling to hold recent gains and stay above the important 14500 support level.

Here is the Canadian Stock Market outlook for Wednesday Nov 2 2016 and an update to the TSX Market Direction Portfolio. I have also included a number of trades I am hoping to enter on Wednesday or Thursday on the TSX Composite Index………………………the rest of the Canadian Stock Market Outlook for Tomorrow is for members.

TSX Composite Index – Canadian Stock Market Outlook for Nov 2 2016

FullyInformed Members can log in through this link to read the latest Canadian Stock Market Outlook for tomorrow for the TSX Composite Index or they can sign in to the full members site here. Non-members can join here or review 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.

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