Commitment of Traders (COT) Report: S&P 500
The number of traders net-long is 13.59% higher from last week, while the number of traders net-short is 1.76% 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 yesterday and compared with last week. Recent changes in sentiment warn that the current US 500 price trend may soon reverse lower despite the fact traders remain net-short
The number of Institutional traders net-long is 46.0%, while the number of net-short is and 27.7%. Decent longs are created and bit high unwinding is seen 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 3200 on weekly basis we stay bullish