The Bank of Canada cut its key interest rate this morning by a quarter point to 0.75 per cent. They said the decision is in response to the recent sharp drop in oil prices, which will be negative for growth and underlying inflation in Canada. So how did investors respond to this negative economic outlook? Well, the stock market took off like a bird of course.
One day does not make a trend. While it’s important to have your shopping list ready for tomorrow, I’ll show you in the MTI graph that while the majority of indicators are bullish, there is one resistance indicator that we have to be cautious about. Check the futures tomorrow at www.finviz.com, www.bloomberg.com (for CA TSX/60 futures), or your brokerage website.
For a complete recap of the market trend and VectorVest’s guidance for tomorrow, please check out our 20-minute CA Colour Guard Report. We also take a look at the leading capped indices as well as today’s leading price gainers in stocks and industries. Click on the link to view the video: http://www.screencast.com/t/rwzDwVaODdYn
Top Price Gainers With Greater Than 20,000 Shares Volume