Greed taking over Wall Street

Greed as opposed to fear - and yes, the market mavens actually study the yin and yang of those two conditions. As explained by MarketBeat's David Gaffen, the Fear & Greed Index indicates that investors are getting a little overexcited. The index compares the balancing act between equities and bonds and without getting too technical, let's just say that the thing is pointing in the direction of "irrational exuberance." In other words, this could be the time to sell stocks and buy bonds. James Montier, an analyst at Dresdner Kleinwort in London, recommends neither, noting that "holding cash seems like a good idea." Meanwhile, should we make a big deal over the Nasdaq Composite Index working its way back to 50 percent of its all-time closing high after seven years? The technical analysts call this a "retracement level" and it could be a sign that the market is in for a fall. Then again, it might not be.