The technical outlook for the Toronto Stock Exchange for Tuesday was a fairly easy call as MMonday as a holiday, but US stocks collapsed further which meant that Canadian investors would most likely be following suit on Tuesday. The opening on Tuesday saw investors literally dumping stocks pushing the index within half an hour to below 14000, which marks a 10% retreat for the Toronto Stock Exchange. A rally back in mid to late morning managed to recover all that was lost at the open but stopped short of reaching 14200 and failed to recover close to the most recent support level.
A second rally over the lunch period failed to move higher and that brought in more selling. Into the close investors once again pushed the Toronto Stock Exchange lower and stocks closed at 14036.68 just above the 14000 level and definitely into correction territory.
TSX intraday Oct 14 2014
Here is the market direction outlook for the TSX for October 15 2014. The rest of this TSX market direction outlook article is for members.
TSX Market Direction Outlook for Oct 15 2014
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