The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the "Extreme Greed" zone on Monday.
Wolfenbarger, the founder of Bull and Bear Profits and a former JPMorgan banker, is particularly concerned about the consistent decline of The Conference Board's Leading Economic Index and the longest stretch of an inverted yield curve in more than half a century.
Wall Street witnessed slight gains at midday on Monday, with investors eagerly awaiting a series of critical earnings reports, the Federal Reserve’s meeting on Wednesday and the much-anticipated job market report this Friday.