There is one day left in the little market opinion poll I have set up on the right of this page. So far, it looks like there is no real overweight of opinion on any of the choices although the pogo stick answer does have a clear majority. Please take a moment to vote - and it really only takes a moment.
Let's say that overnightwe get a rash of votes for the pogo stick. What would that potentially mean? For starters, absolutely nothing since there would be no statistical validity to it. We'd need thousands and thousands of votes to get a handle on what the public is really thinking.
But let's say for fun that we get a 90% reading for the pogo stick. That would be an overwhelming majority and tell us that everyone is thinking the same thing. As we know, the market loves when that happens so it can do the opposite. In this case, that would be a directional move and a big one. The opposite of a trading range is a trend.
Which way? From this there is really no way to know. But anyone who has followed my work or subscribed to my newsletter knows that I don't believe that the market is going to go a whole lot lower. Undercut the old lows maybe. But not the doomsday levels some are forecasting.
So speak out, dear reader! Take the poll and lets see what you sophisticated investors are thinking.