S&P 500 (SPX) Up or Down on July 28?

According to the latest prediction market data for the query “S&P 500 (SPX) Up or Down on July 28?”, traders have formed a strong consensus.

Currently, Up is dominating the market with an overwhelming 84% chance of winning. Down follows in second place at 16%. The betting volume for this specific market has already reached $68.8K, reflecting intense industry interest.

To better assess where each potential outcome stands, the market can be segmented into three distinct trading tiers based on implied probability and contract pricing:

🥇 Tier 1: The Dominant Leader

• Up (84%): Currently commanding the highest probability, Up is heavily favored by the order book. Traders looking to back this outcome face a “Buy Yes” contract price of 84¢, signaling a high degree of market conviction.

🥈 Tier 2: The Primary Challengers

• Down (16%): Positioned as the most viable alternative, Down maintains a 16% chance of resolving true. Its “Buy Yes” shares currently trade at 16¢.

This market will resolve to "Up" if the official S&P 500 Index closing price for S&P 500 (SPX) on Tuesday, July 28, 2026 is higher than the official S&P 500 Index closing price for SPX on the most recent prior trading day.

This market will resolve to "Down" if the official S&P 500 Index closing price for S&P 500 (SPX) on Tuesday, July 28, 2026 is lower than the official S&P 500 Index closing price for SPX on the most recent prior trading day.

E.g., ordinarily, a market on Monday would refer to the previous Friday for its most recent closing price, unless that Friday were a market holiday, in which case it would refer to Thursday, or the next most recent trading day.

If the two specified closing prices are exactly equal, this market will resolve 50-50. Note that all figures will be rounded to the nearest cent using standard rounding.

If SPX does not trade at all during the regular session, the market will resolve 50-50.

If either of the relevant days are shortened (for example, due to a market holiday schedule), the official closing price published by S&P 500 Index for that shortened session will still be used for resolution.

If either of the relevant days have no official closing price (for example, due to a trading halt into the market close, system issue, delisting, or other disruption), the market will use the last valid on-exchange trade price of the regular session as the effective closing price.

The resolution source for this market is the Wall Street Journal, specifically the Close values published by the WSJ under "Historical Prices".

US: https://www.wsj.com/market-data/stocks

EMEA: https://www.wsj.com/market-data/stocks/emea

ASIA: https://www.wsj.com/market-data/stocks/asia

While human consensus and speculative volume shape the broader prediction market, our quantitative algorithms offer a data-driven counter-perspective. By analyzing fundamental signals, underlying trends and historical distributions, our AI Valuation model calculates an independent “Fair Value” probability for each outcome.

Comparing this Fair Value against the current Trade Value uncovers major disparities — known as the Expected Value (EV) Gap. Contracts with a positive EV Gap represent statistically underpriced outcomes, whereas a negative EV Gap flags a potential market overreaction.

Top AI Alpha & Mispriced Arbitrage Opportunities

Based on the latest data model run, several key contracts stand out with significant deviations:

• The Most Overvalued Outcome Up currently trades at 84%, but our AI places its Fair Value at just 81%. This creates a large negative EV Gap of -3%, suggesting the crowd may be overhyping this outcome and driving the premium too high.
• The Best Value Play (Highest EV) Our model identifies Down as the premium value opportunity on the board. While the market only assigns it a 16% trading probability, our AI’s Fair Value assessment sits at 19% — yielding an impressive +3% EV Gap.