Small speculators remain heavy net sellers of the S&P 500. The latest data from the CFTC showed a continuing net bearish position by small speculators. This data has tracked the bull market to near inverse perfection. The general public remains highly skeptical of the recovery and this data would appear to be consistent with this thinking. As a longer-term indicator, this could be a sign that the rally has legs.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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