The technical outlook for the Toronto Stock Exchange for Wednesday Oct 15 2014 was for the selling to continue but for investors to keep an eye out for a technical bounce. The stocks on the Toronto Stock Exchange are so deeply oversold that a technical bounce will have to happen at some point this week and Thursday may finally see that happen.
TSX Intraday Oct 15 2014
The one minute chart for today shows the dramatic sell-off. The morning saw the TSX collapsed right through 14000 and 13950. 14000 is not support but 13950 is light support. The next support level after 13950 is 13450. Light support is then down at 13050. By around 1:30 the TSX had already broken through 13700. This marked a decline of 2000 points from the all-time high of 15,685.13 for a correction of 12.7%. This is a severe correction for stock on the TSX and it seemed to finally bring in some buyer. By the close the market was up at 13869.88 which was still a drop of 166.80 points or just over 1% for the day.
TSX Intraday market direction for Oct 15 2014
Here is the market direction outlook for the TSX for October 16 2014. The rest of this TSX market direction outlook article is for members.
TSX Market Direction Outlook for Oct 16 2014
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