May 4th – By CountingPips.com – Receive our weekly COT Reports by Email
S&P500 Mini Non-Commercial Speculator Positions:
Large stock market speculators boosted 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 61,297 contracts in the data reported through Tuesday April 30th. This was a weekly gain of 58,868 net contracts from the previous week which had a total of 2,429 net contracts.
The week’s net position was the result of the gross bullish position (longs) going up by 6,732 contracts to a weekly total of 415,354 contracts that combined with the gross bearish position (shorts) which dropped by -52,136 contracts for the week to a total of 354,057 contracts.
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The net speculative position had decreased for three out of the previous four weeks.
This week’s rebound in bullish bets was the highest increase of the past five weeks and brought the overall bullish position to the highest standing since January 15th.
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 -16,059 contracts on the week. This was a weekly shortfall of -63,847 contracts from the total net of 47,788 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 $2948.50 which was an uptick of $10.50 from the previous close of $2938.00, 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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