Large S&P500 Speculators decreased bets into deeper bearish level

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S&P500 Non-Commercial Speculator Positions:

Large speculators lowered their net positions in the S&P500 futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Monday due to the Thanksgiving’s Day holiday.

The non-commercial futures contracts of S&P500 futures, traded by large speculators and hedge funds, totaled a net position of -2,330 contracts in the data reported through Tuesday November 21st. This was a weekly decrease of -2,172 contracts from the previous week which had a total of -158 net contracts.

Speculative bets now have fallen for three out of the last four weeks and into the most bearish position since September 12th.

S&P500 Commercial Positions:


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The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 9,347 contracts on the week. This was a weekly rise of 4,026 contracts from the total net of 5,321 contracts reported the previous week.

SPY ETF:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SPY ETF, which tracks the price of S&P500 Index, closed at approximately $259.99 which was a rise of $2.26 from the previous close of $257.73, 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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