The TSX continues to have difficulty with holding rallies. Today though, the afternoon give back in the TSX did not send the TSX index back to the early morning lows. Instead the afternoon dip in the TSX sent it just to the 15240 level which was the opening for the TSX. Overall the problem is one of cautious investors who are selling for small gains at any opportunity as they remain uncommitted to longer term holding of trades. This is continuing to keep the TSX choppy.
TSX Intraday Chart for Mar 2 2015
You can see all the action for today in the chart below. The opening took the TSX immediately to 15240 on the index. From there a rally commenced which sent the TSX to 15280. Two attempts to break that level failed and by 1:00 PM stocks entered the usual early afternoon sell-off. Today though stocks fell just to the morning open at 15240 and then in the last half hour of trading pushed higher closing just below the low. The problem though was this is a small move of just 29.71 points in the index or 0.20%. The market would have to sustain these types of rallies for a full five days to get up almost 1%.
TSX Intraday chart to Mar 2 2015
The rest of this TSX Market Direction Outlook article is for FullyInformed Canada members. … read more.
For FullyInformed Canada members, here is the Market Direction Outlook for the Toronto Stock Exchange for Tuesday Mar 3 2015.
TSX Market Direction Outlook for Mar 3 2015
FullyInformed Canada Members can login through this link to read the market direction outlook for the Toronto Stock Exchange for March 3 2015 or members can sign in to the full Canada members site here. Investors can join FullyInformed’s Canada section or read about the benefits of being a member through this link.
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