Weekly Large Trader COT Report: S&P 500
CFTC COT data shows S&P 500 speculative positions rose to +8,918 contracts
S&P 500 Non-Commercial Positions:
S&P 500 speculators and large futures traders added to their overall S&P 500 bullish bets last week for a second straight 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&P 500 futures, traded by large speculators and hedge funds, totaled a net position of +8,918 contracts in the data reported through June 23rd. This was a weekly change of +1,737 contracts from the previous week’s total of +7,181 net contracts that was registered on June 16th.
The gain in the net speculator positions was due to a decline in the weekly bullish positions by -923 contracts, which was overtaken by a bigger decrease in the weekly bearish positions by -2,660 contracts to total the weekly net change of +1,737 contracts.
S&P 500 Commercial Positions:
The commercial traders position, categorized as hedgers or traders engaged in buying and selling for business purposes, retreated sharply from a bullish position to a small bearish last week. Commercial traders positions amounted to a net total position of -1,209 contracts through June 23rd. This is a weekly change of -43,360 contracts from the total net of +42,151 contracts on June 16th.
S&P 500 Index:
Over the weekly reporting time-frame, from Tuesday June 16th to Tuesday June 23rd, the S&P 500 index advanced from approximately 2096.29 to 2124.20, according to stock market data from Yahoo (NASDAQ:YHOO) Finance.
*COT Report: The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading 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).
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