Wednesday, October 15, 2008

TSX Composite Index Forecast October 15, 2008: I Expect the Bear Market to Go Lower

I just finished my most recent analysis of the TSX Comp Index, as well as the charts for POT (Potash Corp) and RIM (Research in Motion). All three are telling me the same thing. The Bear Market has not ended and the next leg down could be a relatively strong one.

Forecast Details
TSX Comp Index, at 9,625 points, going below 8,851.
POT at $98, going below $85.
RIM at $69, going below $58.

These forecasts are about $10 moves for the stocks and about an 8 % downward move for the index.

As always, the market will do whatever it needs to do and nothing is guaranteed. The timing is uncertain for these events but I'm expecting sooner rather than later. It may have already started downward.


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