53% of Retail Merchants are Web-Lengthy Regardless of the Latest Value Drop
US 500: Retail dealer information exhibits 53.7% of merchants are net-long with the ratio of merchants lengthy to brief at 1.16 to 1. The variety of merchants net-long is 1.7% increased than yesterday and seven.four% increased from final week, whereas the variety of merchants net-short is zero.2% increased than yesterday and 14.6% decrease from final week.
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S&P 500 Sentiment Counsel Costs might Proceed to Fall
We sometimes take a contrarian view to crowd sentiment, and the actual 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 provides us a stronger US 500-bearish contrarian buying and selling bias.
— Written by Jake Schoenleb, DailyFX Analysis