TSX Composite Index – Canadian Stock Market Outlook For Wed Jul 4 2018

Monday was a holiday for the TSX Composite Index. Tuesday July 3 was the first trading day after the holiday. The index was relatively flat although looking at the intraday chart, you can see there was some action worth noting.

TSX Composite Index 5 Minute Intraday Chart

The Index opened higher on Tuesday, above 16320. After half an hour the index slipped and tried to hold the 16300 level. That failed and the break sent it lower by 60 points to the 16240 valuation.

From there the index drifted but as you can see in the chart below, it established a pattern of lower highs. Once the larger US markets closed at 1:00 PM the TSX Composite Index drifted sideways and did slip below 16240 before a small rally pushed it back up. By the close the index was 16,263.16, down a very modest 14.57 points. However during the day it had been as high as 16346 and as low as 16227 for a move of 119 points intraday.  Over the last 30 days, the lowest close was $16122.25 on June 5. On the close on Tuesday, the TSX still looks capable of pushing higher.

TSX Canadian Stock Market Outlook July 3 2018

Here is the outlook for the Canadian Stock Market for Wed Jul 4 2018.

The rest of the Canadian Stock Market Outlook for tomorrow is for FullyInformed Members.

TSX Composite Index – Canadian Stock Market Outlook For Wed Jul 4 2018

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