TSX Composite Index – Canadian Stock Market Outlook for Aug 22 2016

Aug 21, 2016 | TSX Composite Index - Canadian Stock Market Outlook

The Canadian Stock Market on Friday fell deeply to start the day, hitting 14,633.88.

TSX Composite Index Falls 8.22 Points

The morning opening drop was bought by investors however and the market regained its composure. It closed down just 8.22 points at 14,687.46.

TSX Composite Index Chart – 2 Day

The 2 day intraday chart for the TSX shows the morning drop on Monday to 14633.88. However the drop did not come close to breaking 14600 and is still over 100 points away from the 14,500 level which is important, technically, for the ongoing TSX Composite Index rally.

By the close the TSX had recovered and was back trading within the tight 14680 to 14700 range. This 20 point trading range has been ongoing for several days.

TSX Composite Index Chart – Aug 19 2016

TSX Composite Index Momentum

Momentum which turned sharply negative at the open, jumped into positive readings as the market recovered from the early morning opening. By the close however the market had turned neutral on the market direction……………………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.

TSX Composite Index – Canadian Stock Market Outlook for August 22 2016

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