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  • $USDJPY has spanned its full, tight range. The has slightly broadened its smallest 30-day trading range (as a ratio of spot) on record. Serious breakout candidate should a firm risk or Fed rate speculation wind come through https://t.co/XyajC1dAee
  • Seems this once-Hawkish view from Cleveland Fed President Loretta Mester is becoming the consensus for the FOMC https://t.co/uHAmcRFNlG
  • - Supports November taper - Still some distance from maximum employment goal needed for raising rates
  • Fed's Mester - Economy has met substantial further progress bar for taper - On inflation bar for raising rates has largely been met - Expect conditions for first rate hike to be met by end of next year
  • Heads Up:🇬🇧 BoE Tenreyro Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-24
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/HFl8E8exht
  • Credit Suisse dumped Evergrande exposure on risk fears - FT
  • RT @onlyyoontv: #China central bank declares #virtualcurrency-related business activities as illegal. No legal tender/crypto exchange; exch…
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM73cHA https://t.co/2wzX4dacYJ
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSzVO22 https://t.co/HiE4d0KG1Q
S&P 500 Likely to Hit Fresh Record Highs

S&P 500 Likely to Hit Fresh Record Highs

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

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

SPX500 - The ratio of long to short positions in the SPX500 stands at -8.57 as 10% of traders are long. Yesterday the ratio was -9.91; 9% of open positions were long. Long positions are 11.6% higher than yesterday and 5.5% below levels seen last week. Short positions are 3.4% lower than yesterday and 1.9% below levels seen last week. Open interest is 2.0% lower than yesterday and 6.9% 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 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.

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

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