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US S&P 500– Retail traders remain aggressively short the
SPX500, which tracks the US S&P 500, and a contrarian view of crowd sentiment suggests the S&P may trade higher. Indeed,
our data shows traders have remained net-short the SPX500 since the S&P traded at 1,854 through mid-February. As long as
traders continue to sell, we see little reason to change our bullish trading bias.
Our data shows an impressive 87 percent of total open SPX500 positions are short, and total
short interest has recently hit its highest on record. It would take a substantial shift in retail trader positioning to force us
to reconsider our long-standing bullish trading bias in the S&P 500.
See next currency section: EURUSD - Euro Likely to Fall Further Until this Changes
--- Written by David Rodriguez, Quantitative Strategist for
DailyFX.com
To receive the Speculative Sentiment Index and other reports from this author via
e-mail, sign up for his distribution list via this link.
Contact David via Twitter at http://www.twitter.com/DRodriguezFX
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