Number of traders net-short has decreased by 39.36% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 58.79% | 41.21% | 7.09% Daily 6.29% Weekly | -22.15% Daily -39.36% Weekly | -7.27% Daily -18.88% Weekly |
US 500: Retail trader data shows 58.79% of traders are net-long with the ratio of traders long to short at 1.43 to 1. Our data shows traders are now at their most net-long US 500 since Feb 28 when US 500 traded near 2,989.86. The number of traders net-long is 7.09% higher than yesterday and 6.29% higher from last week, while the number of traders net-short is 22.15% lower than yesterday and 39.36% 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.
