TSX Market Direction Outlook For Nov 3 2015

Nov 2, 2015 | Potash Stock (POT), TSX Composite Index - Canadian Stock Market Outlook

For FullyInformed members here is the Market Direction Outlook for the Toronto Stock Exchange for Tuesday Nov 3 2015.

Monday saw the bounce at the open I was seeking and then some selling but the TSX did not turn strongly negative. It wasn’t the strongest day for the TSX but the afternoon saw the TSX recover some lost ground and then with the US dollar slightly lower, the index move up 100 points as in the US, the S&P pushed above 2100. This seemed to give some confidence to Canadian investors who moved back into stocks following the recent pullback.

Part of the reason for the rebound on Monday was the strong oversold technical condition which I outlined in the market direction outlook for Monday Nov 2. But much of the rally was also the result of Valeant Pharmaceuticals International Stock moving higher by 8.06% to close at $131.88. While short-seller Citron indicated they would not be backing off with their accusations, there was no “smoking gun” unveiled on Monday as Citron had promised……the rest of this article is for FullyInformed members.

TSX Market Direction Outlook for Nov 3 2015

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