Mike watches the stock market very closely at the beginning of every year.He believes that there is a 90 percent chance the market will go up and end on a higher note at the end of year if,for each of the first six sessions of a new year,the market closes on a positive.Mike's belief is based on the trends he has seen in the past two years.This is an example of a(n):

Question

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This is an example of the representativeness heuristic, where Mike is making a prediction based on past trends and patterns without considering other possible factors or data. He is assuming that the past is representative of the future, which is a common cognitive bias.

Mike Watches the Stock Market Very Closely at the Beginning