Technical Analysis

S&P 500 : Merchants Internet-Quick Proceed to Improve

SP500

NET-SHORT TRADERS INCREASED BY 6.2% SINCE LAST WEEK

US 500: Retail dealer information exhibits 22.three% of merchants are net-long with the ratio of merchants quick to lengthy at three.49 to 1. In truth, merchants have remained net-short since Jan 07 when US 500 traded close to 2499.68; value has moved 11.7% larger since then. The variety of merchants net-long is 1.three% decrease than yesterday and 5.9% decrease from final week, whereas the variety of merchants net-short is eight.four% larger than yesterday and 6.2% larger from final week.

For extra in-depth evaluation, try the Q1 2019 Forecast for Equities

S&P 500 PROMPTS A STRONG BULLISH TRADING BIAS

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

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Observe Nancy on Twitter @NancyPakbazFX


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