The continued fall in oil, and continued move towards “risk aversion” is reeking havoc on The Canadian Stock Exchanges.
The “TSX” – The Toronto Stock Exchange looks something like this:
Safety can still be found in gold and silver related names as these companies will benefit from the “further move towards risk aversion” with the metals and miners “finally making their move”, but short of that – Canada along with several other “commodity related” countries is gonna get wacked along side risk in general.
As we now enter U.S earnings season, I imagine the vast number of companies “missing” and/or providing sizable reduced earnings forecasts will contribute even further, coupled with the fact that Central Banks are now pretty much out of the picture.
Perhaps we’ll finally see what these markets will do – when left to survive on their own.
Wait….that’s funny – markets left to survive on their own?? That amounts to a whole lot of arrows on charts…..pointing down.