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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 71.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/EnXWWQT0l2
Flock to Safe-Haven Assets Could Create S&P Buying Opportunity

Flock to Safe-Haven Assets Could Create S&P Buying Opportunity

Dylan Jusino,
Flock to Safe-Haven Assets Could Create S&P Buying Opportunity

US 500: Retail trader data shows 44.2% of traders are net-long with the ratio of traders short to long at 1.26 to 1. In fact, traders have remained net-short since Apr 03 when US 500 traded near 2612.25; price has moved 1.6% higher since then. The number of traders net-long is 3.4% higher than yesterday and 10.4% lower from last week, while the number of traders net-short is 9.1% higher than yesterday and 6.6% 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. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bullish contrarian trading bias.

--- Written by Dylan Jusino, DailyFX Research

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

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