Stock traders are freaking out about Barron’s saying the Dow is going to 15,000. Why? Well traders often look at wild headlines as contra-indicators. Meaning, this call actually means the market is topping out right here and now.
Sure, the Dow could go to 15,000 and pigs could fly too. Traders don’t like it when everyone and their mother is talking positively about the stock market and trying to get back in. Usually that means the market has run too fast and needs to rest. We’ll see how this plays out over the coming weeks.
Hat tip to Business Insider for the image and they have some more commentary as well.