00 GMT when Germany 40 traded near 13,987.30.

The number of net-short traders fell by 13.58% last week.

Germany 40: Data on retailers show that 51.06% of retailers are net long with the ratio of retailers long to short at 1.04 to 1. In fact, traders have remained net long since Mar 15 when Germany 40 traded near 13,987.30, price has moved 2.39% higher since then. The number of net-long traders is 21.35% higher than yesterday and 29.97% higher than last week, while the number of net-short traders is 16.70% lower than yesterday and 13.58% lower than last week.

We usually take the opposite view of crowd sentiment, and the fact that traders are neatly long suggests that Germany’s 40 prices may continue to fall.

Our data show that traders are now net long Germany 40 for the first time since March 15, 2022 11:00 GMT when Germany 40 traded near 13,987.30. Traders are noticeably longer than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 40-bearish anti-trade bias.