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sp500

PRICE MOVED 24.3% HIGHER SINCE JANUARY 7

US 500: Retail trader data shows 27.7% of traders are net-long with the ratio of traders short to long at 2.61 to 1. In fact, traders have remained net-short since Jan 07 when US 500 traded near 2340.73; price has moved 24.3% higher since then. The number of traders net-long is unchanged than yesterday and 5.8% higher from last week, while the number of traders net-short is 2.2% lower than yesterday and 5.7% lower from last week.

To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to “Identify Trends with Sentiment”:

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S&P 500 PRICE TREND MAY SOON REVERSE

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

--- Written by Nancy Pakbaz, CFA, DailyFX Research

Follow Nancy on Twitter @NancyPakbazFX