You may call me paranoid, but I find the following chart highly disturbing:
I dislike most indices of confidence among consumers or purchasing managers. Usually, they carry very little information, if any. However, the Economic Policy Uncertainty Index calculated by Scott Baker, Nicholas Bloom and Steven J. Davis may possibly seem to have some value. When the uncertainty is high, buy stocks, the recent history says. When it's low, it's probably time to sell. Maybe.
It worked all too well in 2007. Will it work now, too?
Disclaimer: Anyone who bets his money on highly speculative hypotheses shall be punished accordingly by The Market. I bear no responsibility for your own foolish investment decisions.