Sunday, May 14, 2023
ES Futures Speculators Add To Extremely Bearish Position!
ES futures speculators added to an already extreme net short position as of last Tuesday which may explain why the E-mini S&P 500 futures price has lagged behind the NQ (Nasdaq 100). The retail trader, meanwhile, (whose also been net short) has been scaling back their net bearish position which highlights Wednesday's and Friday's low as a critical juncture. If 4112 (ES last week's critical support) is broken it could hint of a new phase of retail traders fighting momentum. The S&P 500 index would then break below the 4100 region and immediately open 4050 (April/May lows)
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In what was perceived as a hawkish pause by the FOMC, fell on deaf ears shortly after the statement by the Federal Reserve was released Wedn...
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While all eyes will indeed be glued to next week's Federal Reserve's statement and press conference on Wednesday, those viewing thro...