S&P 500 Mini Non-Commercial Speculator Positions:
Large stock market speculators lifted their bullish net positions in the S&P 500 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&P 500 Mini futures, traded by large speculators and hedge funds, totaled a net position of 162,136 contracts in the data reported through Tuesday June 5th. This was a weekly rise of 38,057 contracts from the previous week which had a total of 124,079 net contracts.
Speculative positions had fallen for two straight weeks and by a total of -74,726 contracts before this week’s rebound.
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 -559,849 contracts on the week. This was a weekly fall of -45,057 contracts from the total net of -514,792 contracts reported the previous week.
The commercials continued to push their bearish bets higher for the third time out of the past four weeks and to a new high bearish level since we can find on record.
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 $275.10 which was a gain of $6.08 from the previous close of $269.02, according to unofficial market data.