S&P 500 Mini Speculators Lowered Their Bullish Net Positions For 2nd Week
Zachary Storella | Aug 05, 2018 01:51AM ET
S&P 500 Futures Non-Commercial Speculator Positions:
Large stock market speculators reduced 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 170,302 contracts in the data reported through Tuesday July 31st. This was a weekly reduction of -11,559 contracts from the previous week which had a total of 181,861 net contracts.
The speculative bullish position has cooled for two consecutive weeks after having gained in six out of the previous seven weeks. The overall net position remains above the +170,000 contract level for a fourth week in a row.
S&P 500 Mini Commercial Positions:
The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -282,165 contracts on the week. This was a weekly shortfall of -6,426 contracts from the total net of -275,739 contracts reported the previous week.
SPDR S&P 500 (NYSE:SPY):
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the SPY ETF, which tracks the price of S&P 500 Index, closed at approximately $281.33 which was a shortfall of $-0.28 from the previous close of $281.61, according to unofficial market data.
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