Technical Analysis

S&P 500 : Merchants Stay Web-Brief

US500

30.6% OF TRADERS ARE NET-LONG

US 500: Retail dealer knowledge exhibits 30.6% of merchants are net-long with the ratio of merchants quick to lengthy at 2.27 to 1. The truth is, merchants have remained net-short since Jan 07 when US 500 traded close to 2536.92; worth has moved three.7% larger since then. The variety of merchants net-long is 2.7% larger than yesterday and 9.three% decrease from final week, whereas the variety of merchants net-short is unchanged than yesterday and a couple of.6% larger from final week.

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S&P 500 SUGGESTS A MIXED BIAS

We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests US 500 costs could 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 blended US 500 buying and selling bias.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis


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