Tag: Investor Sentiment
-
CONTRARIAN VIEW: Near Peak Exuberance 230715
The Markets are euphoric about a likely peak in interest rates. My contrarian nature is focused on another likely peak- Investor Exuberance. I calculate investor exuberance from both sentiment and volatility indicators. The below chart compares the S&P 500 with my gauge of exuberance. While both the Market and exuberance can go higher, near term…