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S&P500 Non-Commercial Positions:
Large speculators slightly increased their bets in favor of the S&P500 stock futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of S&P500 futures, traded by large speculators and hedge funds, totaled a net bearish position of -7,343 contracts in the data reported through June 6th. This was a weekly increase of 742 contracts from the previous week which had a total of -8,085 net contracts.
Large speculator positions had fallen for the previous two weeks and landed at the most bearish overall position since March 6th 2012 when net positions totaled -8,949 contracts before this week’s slight uptick.
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S&P500 Commercial Positions:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 11,894 contracts last week. This is a weekly gain of 915 contracts from the total net of 10,979 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the S&P500 index closed at approximately 243.21 which was a rise of 1.71 from the previous close of 241.5, according to market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article by CountingPips.com