Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Oct 21, 2022 when Wall Street traded near 30,996.10.
Number of traders net-short has decreased by 17.63% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
Wall Street: Retail trader data shows 51.38% of traders are net-long with the ratio of traders long to short at 1.06 to 1. In fact, traders have remained net-long since Oct 21 when Wall Street traded near 30,996.10, price has moved 6.06% higher since then. The number of traders net-long is 37.36% higher than yesterday and 28.15% higher from last week, while the number of traders net-short is 12.48% lower than yesterday and 17.63% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Wall Street prices may continue to fall.
Our data shows traders are now net-long Wall Street for the first time since Oct 21, 2022 when Wall Street traded near 30,996.10. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.