TSX Composite Index – Canadian Stock Market Outlook for July 8 2016

The Canadian Stock Market Outlook for Thursday July 7 was for the TSX Composite Index to experience some weakness but push and close slightly positive. Instead oil plunged the most in one day since February and gold and silver were also lower. This impacted the TSX Composite Index which closed negative on the day.

TSX Composite Index Falls 96.60 Points

The Canadian Stock Market opened at $14260 and promptly entered a selling session. By the close the TSX Composite Index was down 96.60 points for a loss of 0.68% to close at 14,134.46.

TSX Composite Index Chart

For Thursday the day started with a jump to 14259.06 as investors pushed the TSX Composite Index higher. But with oil pulling back along with silver and gold, investors were more in a selling mood. They pushed the TSX Composite Index down to 14200 by 10:00 AM and then to 14140 an hour later. The market dithered around 14140 until 1:30. It then fell further, reaching the intraday low of 14102.98 before a late day rally managed to recover some of the late day drop. The TSX Composite Index closed at 14,134.46.

TSX Composite Index Intraday for July 7 2016

TSX Composite Index Intraday for July 7 2016

TSX Composite Index Momentum

Momentum as you can see in the 5 minute intraday chart above, was largely negative for the day………………the rest of the Canadian Stock Market Outlook for Tomorrow is for members.

TSX Composite Index – Canadian Stock Market Outlook for July 8 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.


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