The outlook for the Toronto Stock Exchange for Tuesday was for a possible rally back. I explained that the downside for stocks was probably 20 to 30 points before a rally back. This was based on the TSX now down to the Lower Bollinger Band which is often a signal many investors follow to jump back into stocks to ride any possible rally higher.
In the morning stocks were in fact weak and fell about 40 points. But with US Indexes rising, particularly late in the morning, investors starting to pick away at stocks. While the rally back was not as high as the Dow, S&P or NASDAQ, it still added 27 points to the day and closed stocks back positive and just off the Lower Bollinger Band.
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TSX Market Direction Outlook for Sept 17 2014
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