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  • Heads Up:🇨🇭 Consumer Confidence (Q3) due at 05:45 GMT (15min) Previous: -39.3 https://www.dailyfx.com/economic-calendar#2020-08-04
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  • The correlation b/w the Australian Dollar and #SP500 seems to be breaking down ahead of the #RBA rate decision Join me at 4:15 GMT (in 30 minutes) for an in-depth discussion as I cover the RBA and AUD outlook (see link below) https://t.co/TeGrvZaXx7 https://t.co/EFtYF6u7y3
US Stocks Forecast to Continue Higher until this Changes

US Stocks Forecast to Continue Higher until this Changes

2017-06-05 15:50:00
David Rodriguez, Head of Product
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US Stocks Forecast to Continue Higher until this Changes

Why and how do we use IG Client Sentiment in trading? See our guide and real-time data.

US 500: Retail trader data shows 17.4% of traders are net-long with the ratio of traders short to long at 4.75 to 1. The number of traders net-long is 1.2% lower than yesterday and 1.4% lower from last week, while the number of traders net-short is 3.2% higher than yesterday and 2.6% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests US 500 prices may continue to rise. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed US 500 trading bias.

See next article in this week’s report: EURUSD - Euro Expected to Rally Further versus Downtrodden US Dollar

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

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