Another clue that the near-term outlook for stocks has improved is the chart for the Volatility Index (VIX) which isn’t looking healthy at all right now (bullish for stocks). John has been tracking this very accurately over the last couple of months, correctly predicting a head-and-shoulders top. The trend continues to be bearish for the VIX as shown in the chart below.
July 2, 2012
July 1, 2012
HAPPY CANADA DAY!
Canada is celebrating its 145th birthday today – best wishes to all of our Canadian readers for a safe and Happy Canada Day, and a great long weekend! We are blessed and have so much to be grateful for, living in such a wonderful country.
Canadian stock markets are closed tomorrow. Morning Musings returns Tuesday but we will be posting tomorrow.