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Home Technical Analysis

00 GMT when US 500 traded near 4,002.42.

Forex Tips by Forex Tips
March 3, 2023
in Technical Analysis
0
00 GMT when US 500 traded near 4,002.42.
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US 500 Client Positioning

Number of traders net-short has increased by 15.57% from last week.

SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS CHANGE IN OI
US 500 BULLISH 49.92% 50.08%

-13.08% Daily

-12.04% Weekly

13.04% Daily

15.57% Weekly

-1.71% Daily

-0.09% Weekly

US 500: Retail trader data shows 49.92% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Feb 21 when US 500 traded near 4,002.42, price has moved 0.29% higher since then. The number of traders net-long is 13.08% lower than yesterday and 12.04% lower from last week, while the number of traders net-short is 13.04% higher than yesterday and 15.57% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests US 500 prices may continue to rise.

Our data shows traders are now net-short US 500 for the first time since Feb 21, 2023 17:00 GMT when US 500 traded near 4,002.42. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bullish contrarian trading bias.





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