TSX Composite Index – Canadian Stock Market Outlook for May 26 2016

May 25, 2016 | TSX Composite Index - Canadian Stock Market Outlook

The Canadian Stock Market outlook for Wednesday was for the earnings from Bank of Montreal to be strong enough to propel the market higher and end the day with the TSX Composite Index above 14000.

Indeed the Bank of Montreal Stock shot higher making a new 52 week high at $84.55 and the rest of the market followed.

TSX Composite Index Rises 100.89 Points

The TSX Composite Index Chart for Wednesday May 25 shows today’s action. The 14000 level was reached within 8 minutes of the market opening. From there the market pushed higher and the TSX Composite Index reached 14060 by 10:04. Buying was swift as the index fought back sellers. It took until the lunch hour for sellers to move aside and the index pushed to 14080 shortly after 1:00 PM. The rest of the afternoon the TSX Composite Index drifted sideways before selling lower into the close. Sellers pushed the index in the last few minutes of the day back below 14060 to close at 14053.74 but the market held above 14000 which was the goal for today.

TSX Composite Index Chart May 25 2016

TSX Composite Index Momentum

Momentum for the day was predominantly positive although there was weakness starting to build at the close…………..the rest of the Canadian Stock Market Outlook for Tomorrow is for members.

TSX Composite Index – Canadian Stock Market Outlook for May 26 2016

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