May 18th – By CountingPips.com – Receive our weekly COT Reports by Email
S&P500 Mini Non-Commercial Speculator Positions:
Large stock market speculators decreased 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 93,889 contracts in the data reported through Tuesday May 14th. This was a weekly reduction of -2,247 net contracts from the previous week which had a total of 96,136 net contracts.
The week’s net position was the result of the gross bullish position (longs) growing by 6,532 contracts (to a weekly total of 422,350 contracts) but being overcome by the gross bearish position (shorts) that rose by 8,779 contracts for the week (to a total of 328,461 contracts).
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The SP500-Mini had risen sharply in the past two weeks (though helped by short positions liquidating) before this week’s small decline. The overall spec standing has now been in positive or long territory for five consecutive weeks and is back to the best levels since the beginning of January.
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 -48,981 contracts on the week. This was a weekly drop of -17,360 contracts from the total net of -31,621 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 $2839.25 which was a fall of $-51.50 from the previous close of $2890.75, 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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