How's this for a contraryindicator: The first exchange-traded bond index funds debuted last Friday and then were followed by Monday's ferocious stock market rally.
Yes, investor sentiment is a contraryindicator when it reaches extremes in one direction or the other, the market usually moving contrary to what the majority expects.
And then, before you start using my perceived tone as a contraryindicator, let me say that I am not suggesting that things will be up-up-and-away from here.