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  • ECB VP de Guindos: Inflation in 2021 will be "clearly" above last ECB forecast. #ECB $EUR
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.77% Gold: -1.64% Silver: -2.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/eT5HvOpJH1
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.99%, while traders in Germany 30 are at opposite extremes with 72.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lh4WxFECzU
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  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.69% Gold: -1.54% Silver: -2.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/tb0rhPEn0F
  • Heads Up:🇵🇱 Interest Rate Decision (MAR) due at 15:00 GMT (15min) Actual: 0.1% Expected: 0.1% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-03-03
S&P 500 Poised to Hit Record Highs

S&P 500 Poised to Hit Record Highs

David Rodriguez, Head of Product
S&P 500 Poised to Hit Record Highs

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 -2.62 as 28% of traders are long. Yesterday the ratio was -1.43; 41% of open positions were long. Long positions are 14.7% lower than yesterday and 41.2% above levels seen last week. Short positions are 57.0% higher than yesterday and 21.1% above levels seen last week. Open interest is 27.4% higher than yesterday and 21.7% above 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 further net-short from yesterday but moderated since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

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

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