By CountingPips.com – Receive our weekly COT Reports by Email
S&P500 Mini Non-Commercial Speculator Positions:
Large stock market speculators lifted their net bullish 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 169,430 contracts in the data reported through Tuesday June 12th. This was a weekly gain of 7,294 contracts from the previous week which had a total of 162,136 net contracts.
Speculative positions have gained two weeks in a row to a bullish level above the +160,000 net contract level for a second week.
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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 -586,561 contracts on the week. This was a weekly decline of -26,712 contracts from the total net of -559,849 contracts reported the previous week.
Commercials continue to push their bearish bets higher as this week’s level is the highest bearish position we have on record. Offsetting the commercial short position is a huge bullish position by the small traders (+417,131 net contracts) and the bullish speculator position (+169,430 net contracts).
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 $278.92 which was an increase of $3.82 from the previous close of $275.1, 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 – Receive our weekly COT Reports by Email