We did a poll recently on futures.io (formerly BMT) asking if the S&P 500 would dip below 1000 in the next six months. By 3:1 margin, people said yes over no.
Now, the thing is, with such a bearish sentiment already existing in the marketplace, and yet price continues to move higher, this tends to tell me that all these people are already short but unable to drive prices down, meaning that price will move higher and be fueled by short covering.
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