TSX Composite Index – Canadian Stock Market Outlook for Apr 11 2016

Apr 10, 2016 | TSX Composite Index - Canadian Stock Market Outlook

The outlook for Friday for the TSX Composite Index was for the Canadian Stock Market to pop higher at the open but then drift lower and end negative on the day.

Instead the TSX Composite Index jumped higher and reached 13428.81 intraday before closing up 130.29 points to 13,396.73

TSX Composite Index Chart Intraday Apr 8 2016

The TSX Composite Index Intraday chart below shows the morning jump which took the Canadian Stock Market to 13362 within the first minute of trading. From there a strong rally commenced that within 10 minutes had the TSX up to the high of the day almost to 13430, within 70 points of the 13500 resistance level.

The market was unable to hold the high and drifted lower until 2:30 when selling pushed the index back to the opening jump of 13360. The final 20 minutes of the day saw heavier volume and a move back to close just shy of the 13400 level at 13,396.73 for a gain of almost 1%.

Momentum for the day was fairly mixed after the morning high was reached, but the last 20 minutes saw positive momentum which could assist the TSX Composite Index for Monday morning’s open.

TSX Composite Index Chart for Apr 8 2016

TSX Composite Index – Canadian Stock Market Outlook for April 11 2016

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