Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators remained bearish on the S&P 500 in the week ending October 16.
According to the report, 27.4% of investors were long the S&P 500 as of last week, improving from just 16.7% a week earlier. A reading below 30% indicates oversold conditions.
In the commodities market, 55.5% of market participants held long positions in gold futures last week, rising from 53.2% in the preceding week.
Meanwhile, 28.6% of investors held long positions in EUR/USD as of last week, up from 25.5% in the preceding week, while 44.5% of investors were long in GBP/USD, compared to 48.6% a week earlier.
Elsewhere, 52.3% of market participants held long positions in USD/JPY, improving from 48.5% in the preceding week, while 52.6% of investors were long USD/CHF, declining from 59.7% in the previous week.
Amongst the commodity-linked currencies, 55.2% were long USD/CAD, down slightly from 56.4% a week earlier, 41.3% held long positions in AUD/USD, compared to 33.8% in the preceding week, while 36.6% were long NZD/USD, up from 35.5% 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.