Wall Street: Retail trader data shows 12.21% of traders are net-long with the ratio of traders short to long at 7.19 to 1.Our data shows traders are now at their least net-long Wall Street since Jan 20 when Wall Street traded near 37,852.10. The number of traders net-long is 10.37% lower than yesterday and 35.17% lower from last week, while the number of traders net-short is 8.02% higher than yesterday and 18.13% 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.

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-202401310023.html