Strong Consumer Confidence Should Send Stock Speculators to the Checkout Aisle
MarketWatch: This highly accurate stock-market predictor just hit its most bearish level since the internet bubble
The Conference Board’s Consumer Confidence Index was reported earlier this week to have jumped to 135.7, from 124.3 in June — a much higher than expected increase.
This certainly seems to be good news, since the U.S. economy is so dependent on consumer spending. By some counts, in fact, consumer spending accounts for 68% of the U.S. GDP.
In fact, the Consumer Confidence Index (CCI) is a contrarian market indicator: high values are bearish for stocks and low values are bullish.
Click the link above to read more.
Note: we changed the word "investors" in the title to "speculators" because at these levels there are arguably no investors in equities ... unless they've sold short.
Human nature is immutable, ergo it's not different this time.
The Conference Board’s Consumer Confidence Index was reported earlier this week to have jumped to 135.7, from 124.3 in June — a much higher than expected increase.
This certainly seems to be good news, since the U.S. economy is so dependent on consumer spending. By some counts, in fact, consumer spending accounts for 68% of the U.S. GDP.
In fact, the Consumer Confidence Index (CCI) is a contrarian market indicator: high values are bearish for stocks and low values are bullish.
Click the link above to read more.
Note: we changed the word "investors" in the title to "speculators" because at these levels there are arguably no investors in equities ... unless they've sold short.
posted by C. Guinness @ 7:11 PM
<< Home