Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
SPX500 –Retail CFD speculators continue selling into SPX500 strength. A contrarian view of crowd sentiment favors a test of fresh record peaks.
Trade Implications SPX500 – The SPX500 tracks the fair value of the SP 500 futures price, and a look at the chart above shows that traders had remained consistently net-short the contract until it recently bottomed near $1740. We’ll continue to watch for fresh record peaks as crowds sell. Our strategist nonetheless warns that a failure near key levels may confirm an important short-term top in high-flying stock markets.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
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