Technical Analysis

S&P 500 : Merchants Web-Lengthy Elevated from Final Week

SP500

PERCENTAGE OF NET-LONG TRADERS IS AT ITS HIGHEST SINCE FEB. 13

US 500: Retail dealer knowledge exhibits 28.7% of merchants are net-long with the ratio of merchants quick to lengthy at 2.49 to 1. In actual fact, merchants have remained net-short since Jan 07 when US 500 traded close to 2499.68; worth has moved 9.2% larger since then. The proportion of merchants net-long is now its highest since Feb 13 when US 500 traded close to 2749.65. The variety of merchants net-long is 2.6% larger than yesterday and 10.7% larger from final week, whereas the variety of merchants net-short is 6.eight% decrease than yesterday and 5.three% decrease from final week.

S&P 500 GIVES AN UNCLEAR DIRECTION

We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests US 500 costs might 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 worth pattern might quickly reverse decrease regardless of the very fact merchants stay net-short.

To achieve extra perception in how we use sentiment to complement a technique, be a part of us for one in every of our weekly webinars on the best way to “Determine Tendencies with Sentiment”:

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— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Comply with Nancy on Twitter @NancyPakbazFX


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