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S&P 500 at Little Risk of Major Turn Lower

S&P 500 at Little Risk of Major Turn Lower

David Rodriguez, Head of Product
ssi_SPX500_body_Picture_19.png, S&P 500 at Little Risk of Major Turn Lower

SPX500Retail speculators remain very net-short the SPX500, which tracks the fair value of the S&P E-mini futures price. A contrarian view of crowd sentiment favors further S&P 500 gains.

Trade Implications SPX 500 We wrote last week that stock markets were at a potentially pivotal turning point, and the fact that they’ve now turned higher suggests bulls remain in control. We’ll need to see a much larger shift in crowd sentiment and price before turning bearish on the S&P 500.

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

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

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