SPX Bearish Sentiment Remains (Updated) 01:22:08 (UTC) Fri May 2
Updated
With net open interest (OI) among major hedge funds in the U.S. at current levels, I suspect hedging at the current price zone shown in the chart for the last 3 week's. I don't try SPX nor SPY, but my bearish bias represents fundamentals with the biggest firms in the U.S., keeping in mind that there are more than one market, (see my XLF and XLV trades from today) I can use the SPX short-sell zone to my advantage by taking profit on currently 4 of my positions from today prior to tomorrow's close. I remind you, 2.123 million people filed initial jobless claims for the week ended May 23rd. 40.759 million people have filed in the last ten weeks. 13.5% of the US labor force was receiving unemployment insurance benefits as-of May 16th.
Note
Just 20 days after reaching $25 trillion, the U.S. national debt is now more than halfway to reaching $26 trillion.
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