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S&P 500 Trades Higher As Sentiment Conflicts

S&P 500 Trades Higher As Sentiment Conflicts

Jack Schwarze, Contributor
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S&p 500 Retail Client Sentiment

S&P 500 Climbs Higher as Net-Short Traders Outweigh Net-Long

US 500: Retail trader data shows 29.7% of traders are net-long with the ratio of traders short to long at 2.36 to 1. In fact, traders have remained net-short since May 03 when US 500 traded near 2681.34; price has moved 8.1% higher since then. The number of traders net-long is 12.5% higher than yesterday and 7.6% higher from last week, while the number of traders net-short is 1.7% lower than yesterday and 7.7% higher from last week.

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Mixed Bias Despite S&P 500 at All-Time Highs

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 less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed US 500 trading bias.

--- Written by Jack Schwarze, DailyFX Research

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