NUMBER OF TRADERS NET-SHORT HAS INCREASED BY 31.75% FROM LAST WEEK.

Wall Street: Retail trader data shows 48.45% of traders are net-long with the ratio of traders short to long at 1.06 to 1. In fact, traders have remained net-short since Sep 21 when Wall Street traded near 34,068.90, price has moved 0.93% lower since then. The number of traders net-long is 9.95% lower than yesterday and 32.88% lower from last week, while the number of traders net-short is 13.96% higher than yesterday and 31.75% 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 Sep 21, 2023 when Wall Street traded near 34,068.90. 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.

https://www.dailyfx.com/analysis/WALL-IG-Client-Sentiment-202310101823.html