Commitment of Traders (COT) Report: S&P 500
The number of traders net-long is 7.58% lower from last week, while the number of traders net-short is 1.29% higher from last week.
As per the contrarian view to crowd sentiment, and the fact traders are net-short suggests S&P 500 prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger US 500-bullish contrarian trading bias.
The number of Institutional traders net-long is 45.4%, while the number of net-short is and 30.7%. And a bit unwinding is seen at long side along with that,
decent fresh new positions are created at short side.
As Institutional are still net-long in the overall market, and on the monthly chart we are still in uptrend. As a long as S&P500 remains
above 3000 on weekly basis we stay bullish