Magazine cover indicators are often perceived contrarian indicators
The premise behind the indicator is that when a journalist or editor finally devotes a cover to a market trend, company, country or person, the story or theme has been in vogue for some time and is likely past its peak. Positioning and sentiment should already fully reflect the story on the cover of the publication and the story should be fully priced in. In other words, by the time a journalist writes about the trend, a majority of the move has already happened. Source – Economist
Here are the Recent Magazine Cover Indicators on US Market. First one is from Barrons FEB 2016 issue which showing how Trump and Sanders are bad for the market.
And the second magazine cover is from Barrons Dec 2016 issue which showing why Dow jones hits 20,000
We observed similar Magazine Cover Indicator in CRUDEOIL as well when oil is about to bottomed out.