According to data captured in Charles Schwab’s most recent Trading Services Sentiment Survey, only 10% of traders say they have a bearish outlook for the next three to six months.
The recent rally in cotton prices has some rationale. There were several bullish developments, two of which involve China. On the supply side, early frost and snow in key growing regions lowered yields.
The current move up in the E-mini S&P 500 is part of a five-wave rally that will be targeting new highs and possibly 1850 in the next couple of weeks.
Commodity investments are heading for record outflows driven by withdrawals from gold exchange-traded funds as some investors lost faith in the traditional store of value, according to Barclays Plc.