S&P 500 Sees Clear Skies Ahead
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SPX500 –Retail CFD speculators remain near their most short the SPX500 contract on record, leaving us steadily in favor of further S&P 500 gains.
Trade Implications SPX500 – Crowds have remained short the SPX500 contract since November of last year when the S&P 500 set a lasting bottom. Indeed, short positions have remained mostly unchanged in the past several weeks of trading. Until we see crowd capitulation, we’ll remain in favor of stock price gains.
--- 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.