S&P 500 Poised to Hit Record Highs
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S&P 500 Poised to Hit Record Highs

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S&P 500 Poised to Hit Record Highs

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US S&P 500 - The ratio of long to short positions in the SPX500 stands at -2.62 as 28% of traders are long. Yesterday the ratio was -1.43; 41% of open positions were long. Long positions are 14.7% lower than yesterday and 41.2% above levels seen last week. Short positions are 57.0% higher than yesterday and 21.1% above levels seen last week. Open interest is 27.4% higher than yesterday and 21.7% above its monthly average.

We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the SPX500 may continue higher. The trading crowd has grown further net-short from yesterday but moderated since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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