The biggest supporter right now of the TSX is the declining US dollar. This is something to be aware of. Just as last fall and winter the rapid rise in the US dollar hammered Canadian stocks, the weakness the US dollar has been experiencing is pushing the TSX up.
TSX Daily Chart
Looking at the past couple of weeks and in particular this past week, it is obvious the market is struggling to hold the 15000 level. A lot of the strength in the TSX at present is being caused by the decline in the US dollar. On Friday the TSX moved higher by 80 points and still left the week with a loss of 74 points but managed to hold the 15000 level despite 3 tests of 15000 including on Friday when the TSX dipped ….. the rest of this article looking at the week ahead for the TSX is for FullyInformed Canada members.
TSX – The Week Ahead – 4th Week Of May 2015
FullyInformed Canada Members can can login directly through this link to read the the latest investing strategy notes for the week ahead. or members can sign in to the full Canada members site here. Investors can join FullyInformed’s Canada section or read about the benefits of being a member through this link.
Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.