Commitment of Traders (COT) Report: S&P 500
The number of retail traders net-long is 16.02% lower from last week, while the number of retail traders net-short is 7.97% higher from last week. Inst
As per the contrarian view to crowd sentiment, and the fact traders are net-short suggests S&P 500 prices may continue to rise.
Institutions increased their longs from last few weeks, if this heavy long buildup continues and further short buildup on the retailers side is continue, then there is a high probability to break the resistance of $3486 this time and test $3500 levels for the first time.
Traders are further net-short than last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bullish contrarian trading bias.
Our target achieved i.e. $3413
#USInvestorSentiment #BullBearSpread is -12.01%