It Seems Needlessly Dangerous to Sell S&P 500 Here
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SPX500 –Retail CFD speculators are their most short the SPX500 contract on record, leaving us steadily in favor of further gains.
Trade Implications SPX500 – The SPX500 tracks the fair value of the S&P 500 futures price, and such incredibly one-sided sentiment serves as contrarian signal that stocks will likely continue higher. Indeed, we think it’s dangerous to join the crowd in selling at these levels.
--- 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.