SPX500 Headed for Fresh Highs

DailyFX

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ssi_spx500_body_Picture_15.png, SPX500 Headed for Fresh Highs

SPX500An impressive swing in retail sentiment leaves us bullish the SPX500 as it tests key highs.

Trade Implications SPX 500 Crowds have become increasingly bearish SPX as short interest jumped 28 percent since last week, while long interest has fallen 12 percent. The fairly clear swing in trader sentiment leaves us plainly in favor of SPX500 gains. This is especially true given the sharp drop in broader market volatility and the potential for further US Dollar weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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