Tuesday Nov 15 was a big up day for the TSX Composite Index. Over the past two days the Canadian Stock Market has managed to recover all the drop from last Friday and moved back away from the 14500 support level. Both of these are good signs.
Tuesday’s rally was partly because of the decline in the US dollar. This helped boost the price for metals which moved mining stocks higher, including gold which for 3 prior days was stuck in a slump. Crude oil also moved higher which pushed up the energy sector.
By the close of the day the TSX Composite Index had added a gain of 1.08%.
TSX Composite Index Rises 157.65 Points
The gain during the day on Tuesday saw the TSX Composite Index close near the highs of the day at 17,756.10 only about 10 points off the high. This is a gain of over 250 points since Friday of last week when the TSX tumbled to below 14500 intraday.
Here is the Canadian Stock Market outlook for Wednesday Nov 16 2016.
The rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for Nov 16 2016
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