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IG Client Sentiment

Net-Short is 56% Higher from Last Week

US 500: Retail trader data shows 51.3% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Dec 06 when US 500 traded near 2785.15; price has moved 9.6% lower since then. The number of traders net-long is 5.6% higher than yesterday and 24.7% lower from last week, while the number of traders net-short is 11.7% higher than yesterday and 56.8% higher from last week.

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S&P 500 Sentiment Gives a Bullish Bias

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests US 500 prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current US 500 price trend may soon reverse higher despite the fact traders remain net-long.

--- Written by Fan Xu, DailyFX Research