S&P 500 Goes Into the Weekend With Mixed Trading Bias
US 500: Retail trader data shows 25.0% of traders are net-long with the ratio of traders short to long at 3.0 to 1. The number of traders net-long is 2.1% higher than yesterday and 6.4% higher from last week, while the number of traders net-short is 2.8% higher than yesterday and 4.4% higher 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.
--- Written by Dylan Jusino, DailyFX Research
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