Global Futures Public/Member Short Sales Ratio
This index is calculated by dividing the weekly public short sales by the weekly member short sales for better comparison. A 4-week moving average is applied to smooth out the swings. Members of the NYSE are professionals and normally right about the trend of the market. If they are doing relatively little shorting it is most likely that the market has hit bottom, especially if public short sales increase at the same time. High readings indicate heavy shorting by the public (the so called crowd) and therefore bottoms, low readings indicate tops.
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