contrarian vs smart money views

Schweser study notes - section on technical analysis: from answer to question 7 (p 202): “when margin debt in brokerage account balances increase, smart money technicians will see this as a bulilish sign that investors are buying. contrary-opinion technicians will take the opposite stance and will be bearish.” but schweser did not identify margin debt as a contrarian indicator - so i figured they wouldn’t focus on that. isn’t that what schweser means by creating two categories (smart money indicators vs contrarian indicators)? otherwise, why not just lump them all together and say what a contrarian vs a smart money analyst would do with respect to each?

cnd, Out of the given options for question 7 A. SMT -> Bearish B. SMT -> Bullish C. COT -> Bullish D. No Information The answer is clearly B, so there is no point in arguing over it. I see this more of a test-taking-skill checker question than an ambiguous question. Had the options been stated in this way, they Schweser would be really blamable A. SMT -> Bearish B. SMT -> Bullish C. COT -> Bearish D. No Information Because now, option B and option C are both correct. - Dinesh S