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Indexing My Thoughts

Well, there’s just no doubt about it. I have a lot more fun with down markets than up markets. Last week was a total kick. Today was all about defense.

It’s no shock, though. As I mentioned repeatedly last week, and during the weekend, this brief “shock spikes” in the VIX tend to vanish quickly. Until a missile actually explodes somewhere, it looks like everything is calm once more.

I still think the market is dangerously lofty, however. Looking at the Russell 2000, we are in a tremendous multi-year pattern, mashed right up against its resistance (as always, click the image for a...