In both sports and stock markets some believe there is a magazine cover curse. There is some documented history of the curses, here and here and famous contrarian magazine covers that people remember, however, I suspect we all forget the ones that did not become contrarian signals suffer this causes a memory bias. Barron’s recently ran a DOW 20,000 cover. Is this the top?
I do not think this is the top as the DOW is only about 250 points from 20,000 or 1.25%. Hardly a wild call. The market is due for a pull back, but I expect only a healthy 10-15% correction.