Dow Jones, S&P 500 Outlook: Retail Trader Signals Hint to Proceed With Caution 2021-03-03 06:00:00 Daniel Dubrovsky, Strategist
Dow Jones, S&P 500, Technical Analysis, Retail Trader Positioning - Talking Points
IG Client Sentiment still warning that the Dow and S&P 500 may fall
This would place the focus on year-long rising support, will they hold?
Last week, IG Client Sentiment (IGCS) – a gauge of retail trader positioning – was warning that the Dow Jones and S&P 500 were at risk of turning lower. IGCS is typically a contrarian indicator, meaning that if long bets are rising in an asset, prices could be vulnerable to a pullback and vice versa.
IG Client Sentiment warns that the Dow Jones and S&P 500 could be at risk of losses in the near-term as upside momentum fades. Will longer-term trendlines hold?