Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators added to their bearish bets on the S&P 500 in the week ending September 18.
According to the report, 28.4% of investors were long the S&P 500 as of last week, falling sharply from 47.0% a week earlier. A reading below 30% indicates oversold conditions.
In the commodities market, 48.3% of market participants held long positions in gold futures last week, dropping from 54.2% in the preceding week.
Meanwhile, 29.1% of investors held long positions in EUR/USD as of last week, up from 21.2% in the preceding week, while 48.2% of investors were long in GBP/USD, compared to 40.6% a week earlier.
Elsewhere, 60.8% of market participants held long positions in USD/JPY, improving from 45.4% in the preceding week, while 46.3% of investors were long USD/CHF, declining from 49.0% in the previous week.
Amongst the commodity-linked currencies, 50.4% were long USD/CAD, rising from 47.2% a week earlier, 39.5% held long positions in AUD/USD, compared to 36.7% in the preceding week, while 43.5% were long NZD/USD, up from 41.2% a week earlier.
A reading between 50%-70% is bullish for the instrument, a reading between 30% and 50% is bearish, a reading above 70% indicates overbought conditions and a reading below 30% indicates oversold conditions.
The Investing.com series of indexes is developed in-house. Each index measures overall exposure to major currency pairs, commodities and indexes, using data from futures exchanges and OTC providers on all long and short open positions.