Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
SPX500 –Retail speculators remain heavily short the SPX500 contract, which tracks the fair value of S&P 500 E-mini Futures. As long as crowds remain short, we favor further upside.
Trade Implications SPX 500– Last week we warned that our data flashed a major warning sign on the S&P 500 as we saw early sign of a major shift in crowd sentiment.
Since then crowds have mostly remained neutral, and we don’t yet have enough conviction to call for a bigger S&P sell-off. When that happens, however, be sure that we will update our views. Receive said updates via my e-mail distribution list through this link.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.