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Traders Buying into S&P Declines - Caution Advised

Traders Buying into S&P Declines - Caution Advised

2016-11-03 14:45:00
David Rodriguez, Head of Business Development
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Traders Buying into S&P Declines - Caution Advised

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

US S&P 500The ratio of long to short positions in the SPX500 stands at -1.46 as 41% of traders are long. Yesterday the ratio was -1.75; 36% of open positions were long. Long positions are 9.8% higher than yesterday and 85.3% above levels seen last week. Short positions are 8.1% lower than yesterday and 26.9% below levels seen last week. Open interest is 1.6% lower than yesterday and 5.9% 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 and last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

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