The technical outlook for Tuesday for the Toronto Stock Exchange was for stocks to show signs of weakness and fatigue and possibly even turn lower. Again I was not expecting a rally as strong as the one we saw on Monday but instead stocks moved even higher on Tuesday bouyed by a rise in the prices of oil and gold as well as news out of the ECB of a probably bond buying program copying the US Federal Reserve’s program.
The market direction portfolio continues to capture the gains as it was once more not taken out. Bank stocks and insurance companies climbed once again today with Sun Life up more than 2.7% on the day.
Rogers (RCI.B) which is one of the stocks I actively trade, gained further as did BCE Stock.
Here is the market direction outlook for the TSX for October 22 2014.
The rest of this TSX market direction outlook article is for members.
TSX Market Direction Outlook for Oct 22 2014
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