TSX Composite Index – Market Direction Outlook and Strategy Notes For Apr 1 2016

Mar 31, 2016 | TSX Composite Index - Canadian Stock Market Outlook

The outlook for the TSX Composite Index for Thursday was for the markets to close slightly negative.

TSX Composite Index Closed Down 9.62 Points

The morning looked promising for the TSX Composite Index which has continually struggled with breaking through the 13500 level. At the open the TSX jumped above 13500 and pushed higher only to be met by sellers who by 10:40 had the TSX Composite Index back below 13500. A larger rallied ensued which sent the TSX to its highest point of the day at 13,548.17 almost reaching 13,550. Again sellers emerged and through the lunch hour and early afternoon the market managed to hold onto gains.

Shortly before 2:00 PM heavier selling pushed the index back to the lows of the day at 13475.28. A final rally at the close of the day was not strong enough to hold the market above 13500. The TSX Composite Index closed down 9.62 points but more importantly, back below 13500 again.

Momentum during the day was decidedly mixed although selling pressure kept strengthening negative momentum. The afternoon and the close were negative.

TSX Composite Index Mar 31 2016

TSX Composite Index Market Outlook for April 1 2016

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