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S&P 500 at Fresh Highs as Retail Remains Net-Short

S&P 500 at Fresh Highs as Retail Remains Net-Short

2017-10-03 15:53:00
Christopher Vecchio, CFA, Senior Strategist
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S&P 500 at Fresh Highs as Retail Remains Net-Short

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

US 500: Retail trader data shows 16.3% of traders are net-long with the ratio of traders short to long at 5.13 to 1. The number of traders net-long is 6.0% higher than yesterday and 3.4% lower from last week, while the number of traders net-short is 1.9% higher than yesterday and 6.1% 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.

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

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