S&P 500: Traders Extend Net-Short Run


S&P 500 IG client sentiment chart

Net-Long Positions Increased by 4.4% From Last Week with Net-Shorts up as well

US 500: Retail trader data shows 35.0% of traders are net-long with the ratio of traders short to long at 1.85 to 1. In fact, traders have remained net-short since Jan 07 when US 500 traded near 2603.98; price has moved 9.0% higher since then. The number of traders net-long is 1.9% higher than yesterday and 4.4% higher from last week, while the number of traders net-short is 4.2% higher than yesterday and 2.0% lower from last week.

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S&P 500 Sentiment Suggests a Bullish Trading Bias

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