S&P500 Mini Speculators raised bullish net positions for 1st time in 3 weeks

June 9, 2018

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S&P500 Mini Non-Commercial Speculator Positions:

Large stock market speculators lifted their bullish net positions in the S&P500 Mini 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 Mini futures, traded by large speculators and hedge funds, totaled a net position of 162,136 contracts in the data reported through Tuesday June 5th. This was a weekly rise of 38,057 contracts from the previous week which had a total of 124,079 net contracts.

Speculative positions had fallen for two straight weeks and by a total of -74,726 contracts before this week’s rebound.


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S&P500 Mini Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -559,849 contracts on the week. This was a weekly fall of -45,057 contracts from the total net of -514,792 contracts reported the previous week.

The commercials continued to push their bearish bets higher for the third time out of the past four weeks and to a new high bearish level since we can find on record.

SPY ETF:

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 $275.10 which was a gain of $6.08 from the previous close of $269.02, 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).

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