$$ – Are the stock inflows a huge contrarian indicator? The last time the market saw these kinds of inflows was in 2008!
Let’s go back in time, Doc, just five years ago to when the market last saw these kinds of inflows. Heck, it must be a good thing. CNBC was talking about how earnings are looking good and that many investors have been on the sidelines and a little frightened by the market. So it makes sense that it’s time for these investors to get long and ride this market up, right? Let’s take a look at 2008 via a 5-year chart.
And it just so happens that the stock market is closing in on a long-term trading range high of just over 1500 in the S&P 500.