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The S&P/TSX Composite Index fell 1.38 percent to 16,079.55 on Monday, October 26. At the closing bell, the index traded below its crucial short-term support level of 50-day simple moving average (SMA) and below its immediate support levels of 5-day, 10-day, 20-day and 30-day SMAs. However, managed to trade above its long-term support level of 200-day SMA. The leading momentum indicator, Moving Average Convergence Divergence (MACD), is hovering below its 9-day SMA signal line, with the difference between 12-day and 26-day exponential moving average (EMA) being negative. The TSX Composite is down 5.8% year-to-date.
5-day Price Chart (as on October 26, 2020, after markets close); Source: EODHD/Others (Thomson Reuters)
At the last closing, the S&P/TSX Composite Index offering a dividend yield of 3.64% and traded at a Price-to-Earnings (PE) multiple of 17.43x.
Stocks in Play*
Gainers: Genworth MI Canada (up 24.2%), Husky Energy Inc (up 12%) and Alamos Gold Inc (up 3%)
Losers: Vermilion Energy Inc (down 9%), Enerplus Corp (down 5.6%) and Aurora Cannabis Inc (down 5.5%)
Volume Leaders: Enbridge Inc, Suncor Energy Inc, and Toronto-Dominion Bank.
On Wall Street: Bears were active after reported cases of coronavirus infection jumped and negotiations for a fiscal stimulus package before the election stalled once again. The Dow Jones Industrials dropped 650.19 points or 2.29% to 27,685.38, the Nasdaq Composite was down 189.34 points or 1.64% to 11,358.94 and the S&P 500 index traded down 64.42 points or 1.86% to 3,400.97.
Commodity News*
Gold futures traded higher by 0.03% to US$ 1,905.7.
Brent Oil was up 3.14% to US$ 40.46 /bbl and WTI Crude Oil also down by 3.24% to US$38.56/bbl.
*Details after markets close October 26, 2020.
