S&P 500: Retail Traders Increase Weekly Long Positions Over 20%
Recent changes in sentiment warn that the current US 500 price trend may soon reverse lower despite the fact traders remain net-short.
Recent changes in sentiment warn that the current US 500 price trend may soon reverse lower despite the fact traders remain net-short.
Brent crude oil price has spiked, but that doesn’t mean traders are taking profit. Despite trading at the highest level since 2014, Iran uncertainty and other supply shifts could keep this bull roaring.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias.
New Zealand Dollar technical positioning hints a bounce may be ahead, but any gains are likely to be corrective within the broader downward trend.
The Japanese Yen has fought back a little against the US Dollar but the fundamentals remain against it and will probably reassert themselves soon enough