(MENAFN- DailyFX)
Number of traders net-short has increased by 89.98% from last week.
|
SYMBOL
|
TRADING BIAS
|
NET-LONG%
|
NET-SHORT%
|
CHANGE IN LONGS
|
CHANGE IN SHORTS
|
CHANGE IN OI
|
|
Wall Street
|
BULLISH
|
49.89%
|
50.11%
|
-14.40% Daily
-28.50% Weekly
|
34.63% Daily
89.98% Weekly
|
4.71% Daily
3.99% Weekly
|
Wall Street : Retail trader data shows 49.89% 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 Jun 08 when Wall Street traded near 32,936.00, price has moved 4.86% lower since then. The number of traders net-long is 14.40% lower than yesterday and 28.50% lower from last week, while the number of traders net-short is 34.63% higher than yesterday and 89.98% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Wall Street prices may continue to rise.
Our data shows traders are now net-short Wall Street for the first time since Jun 08, 2022 when Wall Street traded near 32,936.00. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bullish contrarian trading bias.
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