S&P500 Mini Speculators pushed bullish bets to highest level in 22 weeks

October 6, 2018

October 6th 2018 – By CountingPips.comReceive our weekly COT Reports by Email

S&P500 Mini Non-Commercial Speculator Positions:

Large stock market speculators continued to boost 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 228,035 contracts in the data reported through Tuesday October 2nd. This was a weekly increase of 30,119 contracts from the previous week which had a total of 197,916 net contracts.

The speculative bullish position has now risen strongly for three straight weeks and by a total of 105,815 contracts over that time-frame. The current standing is now at the highest bullish level since May 1st when the net position totaled 229,233 contracts.


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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 -257,477 contracts on the week. This was a weekly loss of -9,798 contracts from the total net of -247,679 contracts reported the previous week.

S&P500 Mini Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the S&P500 Mini Futures (Front Month) closed at approximately $2928.5 which was a rise of $7.25 from the previous close of $2921.25, 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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