Barron's big money poll on a chart

Dec 29, 2021

For decades the Barron's big money poll tries to gauge the psychology of the market conducting a survey of the fund's managers, every 6 months.
I plotted on a chart the results of the last 7 surveys.

In the callouts are the titles of the results.
The line represents the bulls forecast (in green) and the bears forecasts (in red), using their estimated targets (the end of the line is the date of the target, the coordinate is the target).
The numbers in green are: the proportion of bulls / the proportion of managers thinking that the market is undervalued.
The numbers in red are: the proportion of bears / the proportion of managers thinking that the market is over-valued.
One survey only sets a target for bulls and bears togethers, so the line is blue.

It's neither technical analysis nor fundamental analysis. It's an attempt to know what the others are thinking... ;)

It should be noted that round 5 times out of 6 the NASDAQ outperformed the bulls targets...