SPX500 –Retail speculators remain very net-short the SPX500, which tracks the fair value of the SP E-mini futures price. A contrarian view of crowd sentiment favors further SP 500 gains.
Trade Implications SPX 500– We wrote last week that stock markets were at a potentially pivotal turning point, and the fact that they’ve now turned higher suggests bulls remain in control. We’ll need to see a much larger shift in crowd sentiment and price before turning bearish on the SP 500.
— 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 https://www.twitter.com/DRodriguezFX
Facebook at https://www.Facebook.com/DRodriguezFX