April 6th – By CountingPips.com – Receive our weekly COT Reports by Email
S&P500 Mini Non-Commercial Speculator Positions:
Large stock market speculators reduced 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 11,335 contracts in the data reported through Tuesday April 2nd. This was a weekly decline of -12,799 net contracts from the previous week which had a total of 24,134 net contracts.
The week’s net position was the result of the gross bullish position (longs) increasing by 7,504 contracts to a weekly total of 367,417 contracts but that was overtaken by the gross bearish position (shorts) which saw an increase by 20,303 contracts for the week to a total of 356,082 contracts.
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The net speculative position had gained for three straight weeks and by a total of +127,521 contracts in that three-week period before this week’s pull back. The current standing remains in bullish territory for a second straight week after having spent the previous nine weeks in a bearish position.
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 19,222 contracts on the week. This was a weekly gain of 14,875 contracts from the total net of 4,347 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 $2867.00 which was an advance of $44.00 from the previous close of $2823.00, 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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