NET-LONG TRADERS INCREASE FROM LAST WEEK
US 500: Retail dealer knowledge exhibits 49.6% of merchants are net-long with the ratio of merchants quick to lengthy at 1.02 to 1. The variety of merchants net-long is four.2% increased than yesterday and a pair of.1% increased from final week, whereas the variety of merchants net-short is unchanged than yesterday and 26.5% increased from final week.
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S&P 500 PRICES MAY INCREASE DUE TO NET-SHORT POSITIONS
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests US 500 costs might proceed to rise. Positioning is much less net-short than yesterday however extra net-short from final week. The mixture of present sentiment and up to date adjustments offers us an additional combined US 500 buying and selling bias.
— Written by Nancy Pakbaz, CFA, DailyFX Analysis