December 1st 2018 – By CountingPips.com – Receive our weekly COT Reports by Email
S&P500 Mini Non-Commercial Speculator Positions:
Large stock market speculators cut back on 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 215,357 contracts in the data reported through Tuesday November 27th. This was a weekly decrease of -8,913 net contracts from the previous week which had a total of 224,270 net contracts.
This week’s net position was the result of the gross bullish position sinking by -25,509 contracts to a weekly total of 486,016 contracts which more than offset the gross bearish position that fell by -16,596 contracts for the week to a total of 270,659 contracts.
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The net speculator position had gained for the previous two weeks before this week’s slide. The current standing remains highly bullish and is over the +200,000 net contract level for the eighth time out of the past nine weeks.
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 -276,027 contracts on the week. This was a weekly uptick of 15,474 contracts from the total net of -291,501 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 $2683.50 which was a gain of $43.50 from the previous close of $2640.00, 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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