S&P 500 Remains in Position to Rally
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SPX500– Retail speculators continue selling aggressively into SPX500 gains—a CFD which tracks the fair value of the S&P E-mini futures contract. If the crowd is selling we typically look to buy, and a contrarian view of ‘the herd’ mentality keeps us focused on further near-term strength.
See next currency section: NZDUSD - New Zealand Dollar Outlook Remains Positive
--- 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.