The outlook for the Toronto Stock Exchange for Thursday was for stocks to move sideways but keep the bias up. As explained though, the US Dollar continues to hold the key for the TSX index. When it rises against the Canadian currency stocks will in general move lower dragging the index down.
TSX Chart Nov 12 and Nov 13 2014
Looking at the two-day chart set for 1 minute you can see that in general the TSX is drifting sideways. On Wednesday the morning saw the TSX shoot up from 14700 and then spend most of the day around the 14760 level before running higher into the close. Today yesterday’s gains were lost as the TSX fell back down to the 14760 level again. By 2:00 PM today the TSX recovered slightly to close at 14778.77 but it was down 77.43 points or half a percent on the day.
TSX for Nov 12 and Nov 13 2014
The US dollar rose higher on Thursday, dragging the energy sector lower and pulling many TSX stocks lower which in turn push the TSX index lower.
The rest of this TSX market direction outlook article is for Canada Members.
TSX Market Direction Outlook for Nov 14 2014
FullyInformed Canada Members can login directly through this link to read the market direction outlook for the Toronto Stock Exchange for Nov 14 2014 or members can sign in to the full Canada members site here. Investors can join FullyInformed’s Canada section or read about the benefits of being a member through this link.
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