News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
S&P 500 Looks Set to Test Fresh Peaks

S&P 500 Looks Set to Test Fresh Peaks

David Rodriguez, Head of Product
ssi_SPX500_body_Picture_16.png, S&P 500 Looks Set to Test Fresh Peaks

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

SPX500Retail CFD speculators continue selling into SPX500 rallies, and a contrarian view of crowd sentiment leaves us in favor of a move towards fresh record peaks.

Trade Implications SPX500 – The SPX500 tracks the fair value of the S&P 500 futures price, and a look at the chart above shows that traders had remained consistently net-short the contract until it recently bottomed near $1740. The fact that the crowd has once again sold aggressively serves as contrarian signal in favor of continued stock market gains. Only a material shift in positions would shake our bias; our Strategist highlights important support at $1820.30 which may contain any short-term pullbacks.

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

ssi_SPX500_body_Picture_10.png, S&P 500 Looks Set to Test Fresh Peaks

Automate our SSI-based trading strategies via Mirror Trader free of charge

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

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

DISCLOSURES