Technical Analysis

S&P 500: Weekly Quick Positions Soar 37% to Yearly Highs

S&P 500: Weekly Short Positions Soar 37% to Yearly Highs

51% of Retail Merchants are Internet-Lengthy

US 500: Retail dealer knowledge reveals 51.7% of merchants are net-long with the ratio of merchants lengthy to quick at 1.07 to 1. The variety of merchants net-long is 5.6% larger than yesterday and 37.7% larger from final week, whereas the variety of merchants net-short is four.2% decrease than yesterday and 22.1% decrease from final week.

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S&P 500 Sentiment Recommend Costs might Proceed to Fall

We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests US 500 costs might proceed to fall. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger US 500-bearish contrarian buying and selling bias.

— Written by Jake Schoenleb, DailyFX Analysis

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