S&P 500 Shows few Signs of Slowing
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
SPX500 – Retail traders are near their most short the SPX500 contract on record, and such one-sided sentiment leaves us with little choice but to continue watching for SPX gains.
Trade Implications – SPX500: The SPX500 tracks the fair value of S&P 500 futures, and our retail data favors continued stock market gains. It is possible that such heavily skewed positions warn of a sentiment extreme and market reversal. Yet it’s obvious that calling for an S&P 500 pullback has been a fool’s errand. Until we see a marked shift in broader sentiment we’ll continue to watch for further equity market gains.
See next currency section:EURUSD - Look for Euro to Trade Lower from Here
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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.