Yardeni Turns Skeptical of Trusted Contrarian Stocks Buy Signal

The mood in the stock market by the end of last week was the type of stuff that contrarian investors dream about.

The S&P 500 Index slid almost 5% from its last record in January as the war in Iran shows no signs of ending soon, keeping oil prices alarmingly high. While some Wall Street strategists are remaining cautiously optimistic, the Investors Intelligence survey of market analysts is flashing its most bearish reading since November.