Commitment of Traders (COT) report analysis S&P 500 Consolidated – CHICAGO MERCANTILE EXCHANGE Futures Only Positions as of 2020-07-21

Commitment of Traders (COT) Report: S&P 500

The number of traders net-long is 18.24% higher from last week, while the number of traders net-short is 1.68% lower 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.

Yet traders are less net-short than compared with last week. Recent changes in sentiment warn that the current S&P500 price trend may soon reverse lower despite the fact traders remain net-short

The number of Institutional traders unwind-ed at both sides long -3375 & short -5413

As Institutional are still net-long in the overall market, and on the weekly chart we are still in uptrend. As a long as S&P500 remains

above 3200 on weekly basis we stay bullish

Support: 3200-3157

Resistance: 3260-3326