The technical outlook for the Toronto Stock Exchange for Tuesday was for stocks to stay weak but with a slight bias up which is being caused by the extreme amount of selling as commodity prices continue to be under pressure. This selling is keeping the TSX extremely oversold.
TSX Market Direction Intraday
Looking at the one minute chart for today you can see the wide swings the TSX encountered all day. The morning started with weakness and the TSX for a few moments broke through 14900 and quick regained momentum back to the upside. By mid-morning a rally had carried the TSX into positive territory as it broke through 15040. Then more selling set in until by mid-afternoon the TSX was back down to 14906. Buyers stepped in once again and pushed the TSX back up to close at 14960.51 for a slight loss on the day.
Here is the market direction for the TSX for October 1 2014. The rest of this TSX market direction outlook article is for members.
TSX Market Direction Outlook for Oct 1 2014
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