SPX Could Fall Even Further After Pivotal FOMC Shift
Trade Implications SPX 500– We’ve been singing the same tune on the S&P 500 for a few weeks running now, and it’s worked out so far—I think the SPX has further room to run to the downside. Retail trader positioning shows SPX500 longs have surged over 40 percent since yesterday, while short interest is down 18 percent. There remain over two traders short for every long, but the shift is enough to leave us bearish.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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