The Canadian Stock Market Outlook for Friday was for the TSX Composite Index to trade in a choppy fashion with attempts to move higher but a negative close on the day. Friday ended up being very choppy with movements of over 100 points during the day.
TSX Composite Index Falls 39.22 Points
The morning started with the TSX Composite Index rallying above the 13820 level. That lasted only about 15 minutes. Selling commenced immediately and the TSX Composite Index fell back to the 13750 support level. That lead to a bounce which by 11:10 had the TSX Composite Index back above 13820. By 11:30 the Canadian Stock Market had reached its highest level of the day at 13,833.61. From there, the market spent the lunch hour and most of the afternoon falling back toward the 13750 support level. By 2:20 that level broke and the TSX fell below the support level to each the lowest level of the day at 13,725.53. Some late day buying helped to send the TSX Composite Index back to close down just 0.28% for a loss of 39.22 points. The close was at 13748.58, just below the 13750 support level.
Canadian Stock Market Outlook – Intraday TSX Composite Index May 13 2016
Overall it was a negative day in both the final outcome and the amount of selling the TSX Composite Index underwent…………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.
TSX Composite Index – Canadian Stock Market Outlook for May 16 2016
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