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SPX500 –Retail CFD sentiment in the SPX500 contract is showing early signs of an important turnaround in the high-flying SP 500.
Trade Implications SPX500 – Crowd positions were recently at their most short SPX500 on record as the SP pressed on to fresh highs. Yet it’s significant to note that short positions have actually fallen a noteworthy 15 percent since last week while long positions are up an important 42 percent.
It’s been a fool’s errand to try and call THE top in stocks, but it seems risky to join crowds in buying the recent SP pullback.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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