The phrase "as a contrary indicator" is correct and usable in written English.
It can be used when discussing something that suggests the opposite of what is expected or typically believed, often in the context of analysis or forecasting.
Example: "The rise in unemployment rates can be seen as a contrary indicator to the overall economic growth we are experiencing."
Alternatives: "as a negative signal" or "as a counterpoint".
Mr. Breit finds VaR, a commonly used measure, useful only as a contrary indicator.
In fact, if oil-price movements have any relevance at all in economic forecasting, it is as a contrary indicator.
Of course, Mr. McManus and many other professional investors view bearishness by small investors as a contrary indicator.
Traditionally, the put-call ratio has been viewed as a contrary indicator, meaning that if investors were buying a lot of puts, it was viewed as an indication that bearishness had reached an extreme and the market might soon rally.
The only mystery to us is the continuing dismal performance of First Calgary Petroleums a stock that's become almost comical in its ability to act as a contrary indicator to its own sector.
Richard A. Ishida, vice president of research, said that "90percentt of the people who see the number use it as a contrary indicator," but that "a contrary opinion only works at market extremes," that is, when the market is either near a high or low point.
Some market participants view the low level of the VIX as an indication of excessively positive sentiment among investors and thus a contrary indicator for the general direction of stock prices.
Discount stores, including Wal-Mart, were an exception (which bodes ill; Wal-Mart is a contrary indicator).
But being aware of past economic growth does not help; or rather, it is a a contrary indicator.
We actually thought about making them a contrary indicator, but thought that might be too cruel.
If there ever was a contrary indicator for the cheap valuations of small-cap tech stocks, it was the recent low investor turnout at this year's American Electronics Association Conference AEAA Classic).
