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SPX500 Forecast to Rally Further as Retail Traders Sell

SPX500 Forecast to Rally Further as Retail Traders Sell

David Rodriguez, Head of Product
ssi_spx500_body_Picture_18.png, SPX500 Forecast to Rally Further as Retail Traders Sell

SPX500Retail CFD speculators continue selling aggressively into SPX500 strength as it trades to multi-year highs, and we see scope for continued strength.

Trade Implications – Our retail sentiment data shows that short positions on the SPX500 contract have grown a further 11 percent since last week, and there are currently over 7 traders short for every one long. Given such clearly one-sided positioning, we see little choice but to favor further SPX500 strength.

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

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ssi_spx500_body_1a_4.png, SPX500 Forecast to Rally Further as Retail Traders Sell

View how to automate the high-volatility Breakout2 Trading System via our previous article and webinar recording.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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