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
Real Time News
  • Rates market priced for perfection leaves GBP vulnerable to hawkish disappointment https://t.co/lHtpEDHOby
  • 🇲🇽 Unemployment Rate (AUG) Actual: 4.3% Expected: 4.4% Previous: 4.4% https://www.dailyfx.com/economic-calendar#2021-09-28
  • $GBPUSD dipping below 1.3600 - $EURGBP back towards 0.8600 https://t.co/zdezlHB3VL
  • Heads Up:🇲🇽 Unemployment Rate (AUG) due at 11:00 GMT (15min) Expected: 4.4% Previous: 4.4% https://www.dailyfx.com/economic-calendar#2021-09-28
  • Heads Up:🇧🇷 BCB Copom Meeting Minutes due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-28
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/VWpQJflwqb
  • USD approaching YTD high (93.73) Factors supporting USD - Yields picking up - Risk appetite weaker - Corporate month end, typically USD positive https://t.co/MOjs8VqRav
  • China State Grid says will strictly control power consumption by high-energy consuming polluting sectors - Will closely monitor supply of thermal coal, hydro and wind power
  • Citi lowers China 2022 GDP forecast 4.9% from 5.5%, citing expected spillover from managed Evergrande restructuring
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/8p6STxmVC6
US S&P 500 Remains a Buy until this Changes

US S&P 500 Remains a Buy until this Changes

David Rodriguez, Head of Product
US S&P 500 Remains a Buy until this Changes

Why and how do we use the SSI in trading? View our video and download the free indicator here

US S&P 500– Retail CFD traders remain extremely net-short the SPX500, which tracks the fair value of the S&P E-mini futures contract, and a contrarian view of ‘crowd’ sentiment has kept us firmly bullish. It was as recently as last week when our data showed over 90 percent of open SPX500 positions were short—a fresh record.

Such heavily one-sided sentiment can sometimes warn of an extreme and potential price reversal. Yet it is likewise clear that sentiment can remain extreme for extended periods of time, and a major trend turnaround is only clear in hindsight.

We would need to see a substantial turn in retail CFD trader sentiment in order to call for an S&P 500 reversal, and indeed we will remain bullish until further notice.

See next currency section: EURUSD - Euro Forecast to Gain Unless this Changes

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

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

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

DISCLOSURES