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  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.02% 🇪🇺EUR: -0.06% 🇬🇧GBP: -0.12% 🇨🇦CAD: -0.22% 🇦🇺AUD: -0.23% 🇯🇵JPY: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LZfExkLfjB
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: France 40: 1.31% Germany 30: 0.97% FTSE 100: 0.82% US 500: 0.57% Wall Street: 0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gUKOWwsere
  • The July flash PMIs from Markit don't paint the most encouraging picture. The US and UK composite activity measures have slide, the Eurozone's has actually advanced and Australia's has tumbled. Despite this picture, SPX just off its record https://t.co/HrcdPASU9Q
  • The July PMIs haven't triggered late-in-the-week volatility which leaves the likes of the $SPX just off its record. DailyFX's @JohnKicklighter discusses weekend and what's ahead 👇 https://t.co/oB9i7XAXCz
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.37% Gold: -0.40% Silver: -1.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/es0k9q46z0
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.49%, while traders in Wall Street are at opposite extremes with 70.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Bo2bJUaa0h
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: -0.39% Oil - US Crude: -0.44% Silver: -1.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mqveb8LmH7
  • 🇺🇸 Markit Manufacturing PMI Flash (JUL) Actual: 63.1 Expected: 62 Previous: 62.1 https://www.dailyfx.com/economic-calendar#2021-07-23
  • LNG looks fundamentally bullish. Low storage - supportive of sustained upward price action. Get your market update from @WVenketas here:https://t.co/h8NC2m4S2G https://t.co/TYADcug01i
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 1.20% Germany 30: 1.04% FTSE 100: 0.87% Wall Street: 0.52% US 500: 0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vSdsBpA79Y
Declining Open Interest Noted, but Crowd Remains Heavily Short SPX500

Declining Open Interest Noted, but Crowd Remains Heavily Short SPX500

Christopher Vecchio, CFA, Senior Strategist
Declining Open Interest Noted, but Crowd Remains Heavily Short SPX500

SPX500 - The ratio of long to short positions in the SPX500 stands at -4.70 as 18% of traders are long. Yesterday the ratio was -4.80; 17% of open positions were long. Long positions are 0.5% lower than yesterday and 25.9% below levels seen last week. Short positions are 2.4% lower than yesterday and 11.3% below levels seen last week. Open interest is 2.1% lower than yesterday and 21.1% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the SPX500 may continue higher. The trading crowd has grown less net-short from yesterday but further short since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

Read more: Crowd Still Net-Short GBP/USD as YouGov Poll Shows Remain at 51%

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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