S&P 500 Looks Unstoppable at These Levels
SPX500 –Retail speculators are their most heavily short the SPX500 contract since it last traded to record peaks, and we see scope for continued strength.
Trade Implications SPX 500– The SPX500 contract tracks the fair value of the S&P E-Mini futures contract and as such the S&P 500 itself. The fact that crowds remain so heavily short stocks gives us ample reason to believe that the S&P can continue to register fresh record peaks. We would only shift our view on a similarly significant turn in crowd sentiment. Receive any and all updates on my e-mail distribution list via this link.
--- 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.