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US Stocks Forecast to Continue Higher until this Changes

US Stocks Forecast to Continue Higher until this Changes

David Rodriguez, Head of Product
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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