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S&P500 Non-Commercial Speculator Positions:
Large stock market speculators slightly added to their bearish net positions in the S&P500 futures markets this 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 position of -4,028 contracts in the data reported through Tuesday September 5th. This was a weekly decline of -73 contracts from the previous week which had a total of -3,955 net contracts.
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Large SP500 speculator positions have now seen increasing bearish bets for four straight weeks and the overall bearish level is the highest since June 13th when net positions totaled -5,466 contracts.
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 -2,267 contracts on the week. This was a weekly increase of 9,163 contracts from the total net of -11,430 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SPY ETF, which tracks the price of S&P500 Index, closed at approximately $246.06 which was an advance of $1.21 from the previous close of $244.85, according to unofficial market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent 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 – Weekly COT Report