Well, I was saddened to hear that Bob Casale (Bob #2) of Devo died. And, as with our beloved BDI, it was from heart trouble (BDI is, mercifully, still with us). I’ve put one of the coolest Devo videos of all time at the bottom of this post as a tip-of-the-power-dome to Bob.
Anyway, I’m still drumming my fingers waiting for the markets to roll over (and, as a second dog trick, play dead). They seem reluctant to cooperate so far, however. Looking at these intraday charts of recent market activity, it seems that the market would require some extraordinary exogenous event to give them a reason to get goosed any more than they’ve already been.
The VIX tells a similar tale, only upside-down. The surge from mid-January to the start of this month was out of the clear blue sky. Since then, we’ve tumbled from nearly 22 down to nearly pre-teen levels. I think another surge is in store, and as my Slope+ subscribers know, I have a very specific prediction laid out about when it’s going to peak.
And here’s the video. Rest in peace, Bob.