The Dow Jones and S&P 500 may remain tilted lower as retail traders hold their upside exposure on Wall Street. What are key levels to watch this week? Get your market update from ddubrovskyFX here:
The Dow Jones and S&P 500 may be at risk ahead as retail traders continue to boost their upside exposure on Wall Street. This can be taken a look at through the lens of IG Client Sentiment , which tends to function as a contrarian indicator. For a deeper dive into factors that may drive volatility ahead, including fundamental analysis, check out the recording of this week’s webinar in the recording above.shows that about 66% of retail traders are net-long the Dow Jones.
27% compared to yesterday and last week respectively. With that in mind, the combination of current sentiment and recent changes is producing a stronger bearish contrarian trading bias.Dow Jones futures remain in a downtrend, with the latest swing low and swing high at 29639 and 31867 respectively. Immediate support seems to be the 30512 – 30803 inflection zone, which is made up of lows from March 2021. A bearish Death Cross remains between the 50- and 100-day Simple Moving Averages .
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