S&P to end year higher than current 1224.6

Proved to be a good support level today!

 

someone started a poll "why not short here?". and other traders starting "top" threads this week., Well the real answer is in the premise of this thread, and the reasoning. 100% correct so far.

 

excessive bearish sentiment has always been a reliable indicator.

 

Looks like this number could be hit anyday now.

 

so far 23 higher to 10 lower.

it would be improbable for 23 of 33 to be right with the sampling and nature of question on this board.

 

23 of 33 think up is a contrary indicator. And so far its bounced back toward the 1224.6 number quite briskly.

 

with 24 of 34 voting higher, the odds are good that it will close below 1224.6

 

I am a humble guy. But I said it before and i'll say it again.

When 24 of 35 ET members vote one way in a 50/50 trading poll, chances are strong of the minority being correct.

 

I am a humble guy. But I said it before and i'll say it again.

When 26 of 38 (almost 70%) vote one way on ET, it has to be wrong. It's called the law of contrarian analysis.

 

Hmm, but it's a pretty small sample size, and you have no idea whether these traders are better-than-average, or not.

I would've thought the more pertinent question to ask would be:

"Will the SP500 close above the 200DMA on the last trading day of the year?"