The outlook for Thursday June 15 2017 was for a further drop down to around the 15125 level for the TSX Composite Index and then a bounce attempt.
Instead, early in the day the TSX Composite Index slipped below 15125 to reach 15,077.95 before the expected bounce arrived. Buyers returned and the index pushed back to close down just 9.71 points at 15,160.42.
This leaves the TSX Composite Index at its lowest level in over 6 months and wipes out all gains for 2017.
Energy and materials groups fell the most of all the sectors on Thursday, as lower prices for oil and gold continued to pound away at the resource laden index.
After hours. oil futures tried to stabilize but gold continued its slump. Financials stocks, the other broad sector in TSX Composite Index held up better on Thursday despite an early morning dip by most within the sector. By the close all the big Canadian banks saw gains on the day.
This article looks at the market breadth indicators from June 15 2017 and views the outlook for Fri Jun 16 2017.
The TSX Composite Index Market Breadth Outlook for Tomorrow is for FullyInformed Members.
TSX Composite Index Market Breadth Outlook for June 16 2017
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