A contest on Thursday into Friday around where the $SPY would close to end the week yielded quite a few responses, most on the bullish side. The $SPY closed at $203.97 on Thursday and the average guess for the close for Friday was $204.41 . Only two guesses put the SPY under $200 - one was $193.52, the other $196.01. Everyone else penned the close over $200. Would guess the past 6 years of 'Buy the Dip' mentality has quite a bit to do with that.
Of course the $SPY closed down over 3% at $197.63, and the media is having a field day this weekend with fear inducing articles and commentary. Is this just the start of a major sell-off, or just a pull-back before we head to new all-time highs?
Figure we give this contest another try.
Contest: Guess the Closing Price of the $SPY for Friday, August 28th, 2015. Guesses must be in by 6am Monday morning.
The closest guess will Win 3 Months of Free Diamond Access to OptionMIllionaires.com.
Place your entries here: https://www.surveymonkey.com/r/669RS7W
Will publish the data at 10am on Monday.
Have a Great Weekend and Best of Luck!