I posted last week of optimism getting extreme, and a market decline follows. The post explains why the herd mentality creates such a reaction.
Today on Gary of Smart Money Trackers paid premium service, he quoted the same statistics.
However his post had a more refined measurement of optimism than my post.
Using his data, the peak should happen in the next 8 business days.
So by January 22nd, the market should already be heading lower.
I stand by my original post last week, just may have been a little too early.