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

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

The Canadian Stock Market on Wednesday Jun 15 2016 was predicted to close mildly higher or not much lower. Indeed the TSX Composite Index did have a fairly good day until 3:30 when the TSX came unglued.

TSX Composite Index Up 39.22 Points

The day was spent with the TSX Composite Index climbing to reach 13980, rising over 100 points. Momentum for much of the day remained with a bias to the upside. However as the US markets sold-off late in the day and were falling, Canadian investors seemed to lose their nerve and they started to sell, dropping the index 60 points between 3:36 and 3:47 for an 11 minute drop. Heavy sell volume hit the TSX Composite Index and momentum moved sharply negative as you can see in the intraday chart below. The close still saw the TSX higher by 39.22 points to close at 13,923.45.

TSX Intraday June 15 2016

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

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