By Alan Steel
Scotland experienced its biggest earthquake in 30 years yesterday, and the “overdue apocalypse” chatter kicked into high gear. Apparently the kitchen cabinets were rattling in Moidart in the late afternoon.
They’ve nicknamed an expected heatwave “Lucifer” that’s due to hit Italy, Switzerland, Croatia and Poland, as warnings of climate change abound. The Global and European average temperature has moved up less than 1°C (1.8°F) in 160 years.
Brexit has aroused more fear and accumulated more negative headlines than Donald Trump and Uber combined, and it hasn’t even started yet.
And record-breaking major indexes have incited a chorus of “market top” town criers to sing, “Beelzebub has a devil put aside for…the Dow Jones, Nasdaq, S&P and FTSE….FTSE…FTSEEEEEEE……..”
The VIX S&P Volatility Index (considered an investor fear gauge) hit an all-time weekly low of 9.36 on July 21, and investor complacency hovered at “lower bowel” level according to the American Association of Individual Investors (AAII), while the stampede of money moving away from U.S. Equities continues apace.
So here we are in Leo’s summertime grip, when markets move at glacial speed, reminded by the above to always watch what’s happening, and not what people say is happening.
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