Technical Analysis

S&P 500 : Internet-Brief Positions Decreased

US500

TRADERS REMAINED NET-SHORT SINCE JAN 07

US 500: Retail dealer knowledge exhibits 32.four% of merchants are net-long with the ratio of merchants quick to lengthy at 2.09 to 1. Actually, merchants have remained net-short since Jan 07 when US 500 traded close to 2527.99; value has moved four.1% larger since then. The variety of merchants net-long is zero.four% decrease than yesterday and 13.eight% larger from final week, whereas the variety of merchants net-short is three.1% decrease than yesterday and 1.zero% decrease from final week.

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S&P 500 SENTIMENT CONTINUES TO PROMPT 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. But merchants are much less net-short than yesterday and in contrast with final week. Latest adjustments in sentiment warn that the present US 500 value development could quickly reverse decrease regardless of the actual fact merchants stay net-short.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis


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