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S&P 500: Weekly Long Positions Climb 24% to Multi-Month High

S&P 500: Weekly Long Positions Climb 24% to Multi-Month High

2018-10-29 17:30:00
Jake Schoenleb,
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S&P 500: Weekly Long Positions Climb 24% to Multi-Month High

Weekly Net-Short Positions Decrease 17%

US 500: Retail trader data shows 54.8% of traders are net-long with the ratio of traders long to short at 1.21 to 1. The number of traders net-long is 3.8% lower than yesterday and 24.7% higher from last week, while the number of traders net-short is 0.3% lower than yesterday and 17.0% lower from last week.

To gain more insight to how we use sentiment to power our trading, join us for our weekly Trading Sentiment webinar.

Current Sentiments Conflict With Each Other

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests US 500 prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed US 500 trading bias.

--- Written by Jake Schoenleb, DailyFX Research

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

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