S&P500 Speculators lowered their net positions to a small bearish level

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S&P500 Non-Commercial Speculator Positions:

Large stock speculators reduced their net positions in the S&P500 futures markets this week to a new bearish level, 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 futures, traded by large speculators and hedge funds, totaled a net position of -248 contracts in the data reported through Tuesday October 31st. This was a weekly reduction of -1,256 contracts from the previous week which had a total of 1,008 net contracts.

Speculative positions had been in a small bullish level for the past two weeks before dipping into a bearish position this week.

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 -2,065 contracts on the week. This was a weekly decrease of -336 contracts from the total net of -1,729 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 $257.15 which was a gain of $0.59 from the previous close of $256.56, 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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