DailyFX.com -
US 500: Retail trader data shows 44.4% of traders are net-long with the ratio of traders short to long at 1.25 to 1. In fact, traders have remained net-short since Apr 03 when US 500 traded near 2636.7; price has moved 0.2% higher since then. The number of traders net-long is 2.2% lower than yesterday and 0.1% lower from last week, while the number of traders net-short is 3.2% higher than yesterday and 2.6% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests US 500 prices may continue to rise. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed US 500 trading bias.
--- Written by Dylan Jusino, DailyFX Research
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
