00 GMT when US 500 traded near 4,361.22.

00 GMT when US 500 traded near 4,361.22.

Number of traders net-short has decreased by 0.17% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

US 500

BULLISH

49.99%

50.01%

-3.56%
Daily

-6.01%
Weekly

7.87%
Daily

-0.17%
Weekly

1.84%
Daily

-3.18%
Weekly

US 500: Retail trader data shows 49.99% 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 Sep 28 when US 500 traded near 4,361.22, price has moved 0.67% higher since then. The number of traders net-long is 3.56% lower than yesterday and 6.01% lower from last week, while the number of traders net-short is 7.87% higher than yesterday and 0.17% lower 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 Sep 28, 2021 16:00 GMT when US 500 traded near 4,361.22. 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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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/10/07/US500-IG-Client-Sentiment-1025.html
By: Research

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