TSX Composite Index – Market Direction Outlook and Strategy Notes For Mar 17 2016

Mar 16, 2016 | TSX Composite Index - Canadian Stock Market Outlook

For FullyInformed members here is the TSX Composite Index Outlook for the for Thursday Mar 17 2016.

On Wednesday the morning saw a rally up to 13500 which was rejected on low volume. The decline sent the TSX to its lowest level of the day, down to 13,402.02. From there though the TSX rallied on the back of the US Federal Reserve’s decision to hold on an interest rate increase for March and took a dovish stance on future increases.

TSX Composite Index Rises 77.82 Points

The TSX Composite Index by the close had recovered the losses from Tuesday’s pullback and left the TSX Composite Index at 13,478.13. This places the index back within easy striking distance of moving beyond 13,500.

TSX Composite Index One Minute Chart

The action today can be seen in the one minute intraday chart below. The morning rally to retake 13,500 ended shortly after 11:00 AM and the market fell to the low of the day shortly before the Fed’s announcement at 2:00 PM. That led to a second rally which was far choppier and managed to reach 13500 again. The close saw the TSX at 13,478.13.

TSX Composite Index for March 16 2016

TSX Composite Index Momentum

Momentum at the open was overwhelming positive as the index climbed. The rejection of the rally sent momentum lower to ……….the rest of this article is for FullyInformed Members.

TSX Composite Index Market Outlook for Mar 17 2016

FullyInformed Members can login through this link to read the latest market direction outlook for the TSX Composite Index or they can sign in to the full members site here. Non-members can join here or review the benefits of a membership.

Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.