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SPX500 Outlook Remains Bullish as Crowds Sell Further

SPX500 Outlook Remains Bullish as Crowds Sell Further

David Rodriguez, Head of Product
ssi_spx500_body_Picture_18.png, SPX500 Outlook Remains Bullish as Crowds Sell Further

SPX500Retail CFD speculators continue selling aggressively into SPX500 strength, and such strongly one-sided sentiment warns against betting on any near-term reversals.

Trade Implications – Our SSI data shows that short interest in the SPX500 jumped a further 19% since last week, while long interest is actually slightly higher. If we really wanted to force the issue we could claim that the marginal bounce in long interest warns of short-term trend exhaustion. Yet it seems foolish to go against the high-flying SPX500 at these levels.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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ssi_spx500_body_1a_4.png, SPX500 Outlook Remains Bullish as Crowds Sell Further

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