Leading financial bookmaker www.BetsForTraders.com has seen its Sentiment Index fall below 25 for a sustained period for the first time since mid July.
Ryan Kneale, Chief Market Analyst at www.BetsForTraders.com comments:
"The index is currently at 24, which indicates at a macro level that over 76% of BetsForTraders.com clients are betting on further stock market falls. Historically when the Sentiment Index dips below 25 this has caused the FTSE to fall heavily. Only time will tell whether history is about to repeat itself.
"Looking forward we expect the Sentiment Index will remain rooted in bearish territory as traders continue to bet heavily against bank stocks in light of the FSA's ban on short selling financial stocks."
www.BetsForTraders.com Sentiment Index
The BetsForTraders.com Stock Market Index is a sentiment index which fluctuates between 0 and 100 as financial punters become more bullish or bearish. It is based on the total monetary value of bets made on the markets to rise versus fall. A value of 50 can be regarded as 'normal', meaning that there are equal amounts of money being wagered on markets to rise and fall. A value of 100 would mean that 100% of clients were betting on the markets to rise and vice versa for a value of 0. The index is calculated on bets from a broad range of stock markets to give a macro level view on traders’ sentiment
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