The average Nasdaq-focused stock market timer has become more bullish than on precisely 93.6% of all other days since 2000.
That much exuberance is not a good sign from a contrarian point of view. In late April, when these same investors became equally exuberant, the Nasdaq Composite Index COMP proceeded to fall 7.8% in two weeks’ time.
Ironically,…
This post was originally published on Market Watch
