The technical outlook for the Toronto Stock Exchange for Monday was for stocks to be weak in the morning but end with a positive close. Instead stocks were weak the entire day. The US Dollar fell back on Monday but more and more investors are worrying about the impact of the strong US dollar on everything from earnings to US exports. If earnings in the US fail to meet analysts expectations stocks will pullback and Canadian stocks will definitely follow. This kept investors on edge in Toronto as they wait for the earnings from Alcoa.
TSX Market Direction Intraday
I have put up the 5 minute intraday chart as it shows best the movement lower today. By 1:00 PM stocks were down at 14750. By the close stocks actually closed down just below 14750. Stocks were under pressure all day with 64 new lows versus just 16 new highs.
Here is the market direction for the TSX for October 7 2014. The rest of this TSX market direction outlook article is for members.
TSX Market Direction Outlook for Oct 7 2014
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