Our data shows that traders are now long on the US 500 for the first time since December 23, 2021, when the US 500 traded near 4,725.70.
The number of net short traders was down 19.74% from last week.
|
SYMBOL |
COMMERCIAL BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE OF LONGS |
SHORTS CHANGE |
CHANGE OF IO |
|
500 United States |
DECLINE |
51.04% |
48.96% |
3.22%
36.96% |
-4.06%
-19.74% |
-0.48%
1.76% |
500 United States: Data from retail traders shows that 51.04% of traders are net long with a ratio of long to short traders of 1.04 to 1. In fact, traders have remained net since December 23, when the US 500 traded near 4,725.70, the price has fallen 0.82% since then. The number of net-long traders is 3.22% higher than yesterday and 36.96% higher than last week, while the number of net-short traders is 4.06% lower than yesterday and 19.74 % lower than last week.
We generally take a contrarian view of crowd sentiment, and the fact that traders are net long suggests that the prices of the US 500 may continue to decline.
Our data shows that traders are now long on the US 500 for the first time since December 23, 2021, when the US 500 traded near 4,725.70. Traders are still longer than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500 countercurrent trade bias.
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