Traditional Technical Analysis books delve into “opinion of the crowds”, and suggests a contrarian trading philosophy to the crowd sentiments.
But what about the “opinion of experts”?
See for yourself, how well the T&C Consensus jives with not betting against an “opinion of experts”
– On the surface the mathematical correlation between the two data series (polls and SPX closing values) has a 60% correlation
– But as a monthly data set series, look at the value of the polls, most importantly at the two critical junctures from this year
* January 2010 decline
* April 2010 rise
Would this have been worth something to you?