Traders Debate Whether Magazine Cover Curse Will Hit Stock Rally
- Traders are chattering about recent bullish market coverage
- Magazine cover-contrary indicator often points to trend ending
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With the S&P 500 Index climbing almost 7% to start 2024 after jumping 24% in 2023, you’d think the financial press would be urging caution about how much further stocks can go. But that’s not happening, as even skeptical financial publications are encouraging investors to buy in.
This weekend’s Barron’s magazine cover saying “Bet on the Bull” was all over X, the social media platform formerly known as Twitter, as traders debated whether it was a sign of a top. Earlier this month, The Economist featured a bull on its cover, questioning “How high can markets go?”