S&P 500 Needs to Show its True Colors
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SPX500 –Retail CFD speculators remain heavily short the SPX500 contract, and a contrarian view of crowd sentiment leaves us in favor of further gains.
Trade Implications SPX500 – December is most often a great month for stocks, while January tends to set the pace for the rest of the year. It will be important to watch how the S&P finishes the first month of the trading year, but as it stands sentiment leaves us in favor of further strength.
--- 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.