If there is such an index it must be at an alltime high. Every time I look at the financial section all I see is negative headlines related to subprime mess or plummeting home prices or predicting a recession. When the stock market hit the 10% retracement/correction level numerous bear market headlines were the result. As the market recovers, where are the headlines? This morning WSJ: "US Mortgage Crisis Rivals S&L Meltdown" Meanwhile, futures are higher. Is there such a thing as a media-induced recession?
That maybe true, but this market is still disounting nirvana. I suspect it will keep discounting nirvana until rates go to zero.