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S&P 500 Rallies Look Safe For Now

S&P 500 Rallies Look Safe For Now

David Rodriguez, Head of Product
ssi_SPX500_body_Picture_17.png, S&P 500 Rallies Look Safe For Now

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SPX500Retail CFD speculators continue selling into SPX500 strength. A contrarian view of crowd sentiment favors a test of 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. We’ll continue to watch for fresh record peaks as crowds sell. Our strategist nonetheless warns that a failure near key levels may confirm an important short-term top in high-flying stock markets.

--- Written by David Rodriguez, Quantitative Strategist for

ssi_SPX500_body_Picture_10.png, S&P 500 Rallies Look Safe For Now

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