TSX Composite Index – Canadian Stock Market Outlook for Aug 16 2016

Aug 15, 2016 | TSX Composite Index - Canadian Stock Market Outlook

The Canadian Stock Market on Monday ended with a slight gain following a day of primarily sideways action.

TSX Composite Index Rises 29.57 Points

By the end of the day the TSX Composite Index closed up 29.57 points to 14,777.02 for a gain of 0.20%.

TSX Composite Chart – Intraday Chart

Today’s action was all in the morning on the TSX Composite Index. Canadian stocks moved higher in the morning and by mid-morning the index looked like it would break through 14800. Instead sellers arrived and the index slipped back. The remainder of the day was spent with the TSX Composite Index flirting around the 14780 level. It closed just below it at 14777.02.

TSX Composite Index Chart – Intraday Aug 15 2016

TSX Composite Index Chart – Momentum

In the chart above you can see how mixed momentum was. What is indicative of this market is the strength of positive momentum on moves higher but the lack of strong selling when the TSX Composite Index pulls back. This is indicative of a bull market where rises in the index draws in buyers, and dips find few sellers as the anticipation is the index will continue to advance………………….the rest of the Canadian Stock Market Outlook for Tomorrow is for members.

TSX Composite Index – Canadian Stock Market Outlook for August 16 2016

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