US 500 IG Client Sentiment: Our data shows traders are now net-short US 500 for the first time since Sep 21, 2022 when US 500 traded near 3,767.83.
Number of traders net-short has increased by 28.71% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
US 500: Retail trader data shows 49.89% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Sep 21 when US 500 traded near 3,767.83, price has moved 3.14% higher since then. The number of traders net-long is 9.44% lower than yesterday and 19.35% lower from last week, while the number of traders net-short is 6.03% higher than yesterday and 28.71% higher 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.
Our data shows traders are now net-short US 500 for the first time since Sep 21, 2022 when US 500 traded near 3,767.83. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bullish contrarian trading bias.
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