SPX500 –Retail CFD speculators continue selling aggressively into SPX500 strength as it trades to multi-year highs, and we see scope for continued strength.
Trade Implications – Our retail sentiment data shows that short positions on the SPX500 contract have grown a further 11 percent since last week, and there are currently over 7 traders short for every one long. Given such clearly one-sided positioning, we see little choice but to favor further SPX500 strength.
--- 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.
New to FX markets? Learn more in our video trading guide.
Contact David via
Twitter at https://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX