Wall Street: Retail trader data shows 47.68% of traders are net-long with the ratio of traders short to long at 1.10 to 1.In fact, traders have remained net-short since May 23 when Wall Street traded near 33,096.00, price has moved 1.58% higher since then. The number of traders net-long is 28.15% lower than yesterday and 19.91% lower from last week, while the number of traders net-short is 33.10% higher than yesterday and 22.26% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Wall Streetprices may continue to rise.

Our data shows traders are now net-short Wall Street for the first time since May 23, 2023 19:00 GMT when Wall Street traded near 33,096.00. 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.

Source https://www.dailyfx.com/analysis/WALL-IG-Client-Sentiment-202306021523.html