S&P500 Mini Speculators drop their bets into new bearish position

April 13, 2019

April 13th – By CountingPips.comReceive our weekly COT Reports by Email

S&P500 Mini Non-Commercial Speculator Positions:

Large stock market speculators cut back on their 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 -3,139 contracts in the data reported through Tuesday April 9th. This was a weekly reduction of -14,474 net contracts from the previous week which had a total of 11,335 net contracts.

The week’s net position was the result of the gross bullish position (longs) rising by 12,061 contracts to a weekly total of 379,478 contracts but being more than offset by the gross bearish position (shorts) which jumped by 26,535 contracts for the week to a total of 382,617 contracts.

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The net speculative position has now dropped for two straight weeks and by a total of -27,273 contracts. The current standing is now back in bearish territory after having escaped that position in the previous two weeks.

Overall, the speculators have not (on a net basis) participated in the S&P500 rally since the beginning of the year as speculators have shed a total of -173,357 contracts since December 31st.

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 28,223 contracts on the week. This was a weekly increase of 9,001 contracts from the total net of 19,222 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 $2882.50 which was a gain of $15.50 from the previous close of $2867.00, 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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