Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
Client Sentiment Indicator - US SPX500 Cash
00:00, 21 October 2013
With the US debt ceiling concerns now (temporarily) out of the way, the SPX500 is again trading at all-time highs. So why are 60% of CMC’s top clients are short the SPX500? Perhaps the reason concerns the technical picture. The trend line drawn from the August and September peaks could provide some resistance to further upside movement and buyers conviction may be tested here. It will be interesting to see if there is a change sentiment should price breach this resistance. (The Client Sentiment Indicator may be accessed by clicking on the arrow next to the instrument below and selecting from the drop down menu).