Number of traders net-short has decreased by 29.04% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 72.87% | 27.13% | 4.98% Daily 17.42% Weekly | -0.15% Daily -29.04% Weekly | 3.54% Daily -0.29% Weekly |
US 500: Retail trader data shows 72.87% of traders are net-long with the ratio of traders long to short at 2.69 to 1. Our data shows traders are now at their most net-long US 500 since May 12 when US 500 traded near 3,925.70. The number of traders net-long is 4.98% higher than yesterday and 17.42% higher from last week, while the number of traders net-short is 0.15% lower than yesterday and 29.04% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests US 500 prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bearish contrarian trading bias.
