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S&P Remains a Buy until this Changes

S&P Remains a Buy until this Changes

2017-06-12 16:05:00
David Rodriguez, Head of Product
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S&P Remains a Buy 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 20.1% of traders are net-long with the ratio of traders short to long at 3.98 to 1. The number of traders net-long is 7.7% higher than yesterday and 18.9% higher from last week, while the number of traders net-short is 2.2% lower than yesterday and 4.6% 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. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current US 500 price trend may soon reverse lower despite the fact traders remain net-short.

We would nonetheless need a much larger shift towards 'crowd' buying before we called for an end to the much-larger S&P 500 uptrend.

See next article in this week’s report:EURUSD - Our Euro Forecast may Shift as Traders Show Change of Heart

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