Canadian Dollar Gets Slammed!

 

D6Y00-May-4-2016

Our pathetic Canadian dollar or our peso as some like to call it, was stopped dead in its tracks, which was no surprise as I have been warning about this for some time. The problem is what’s next? Any wave 2, can go all the way down to a  61% correction, or even more.  To say the least that is not reliable, as it even could stop anywhere in the 40% to 50% range, depending on the strength of the overall market.

The higher it will eventually go the closer we will get to another recession as we were in the middle of a recession the last time the CAD peaked out in 2008. Oil has also been declining, but oil is in a small rally right now.  What we have to look out for is a corrective type of a decline with a good looking trailing “C” wave.   

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