Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Aug 24, 2023 when Wall Street traded near 34,133.90.
Number of traders net-short has decreased by 17.36% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
Wall Street: Retail trader data shows 51.31% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Aug 24 when Wall Street traded near 34,133.90, price has moved 0.72% higher since then. The number of traders net-long is 27.10% higher than yesterday and 29.45% higher from last week, while the number of traders net-short is 15.41% lower than yesterday and 17.36% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Wall Street prices may continue to fall.
Our data shows traders are now net-long Wall Street for the first time since Aug 24, 2023 when Wall Street traded near 34,133.90. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.
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