Commitment of Traders (COT) Report: S&P 500
The number of retail traders net-long is 30.69% lower from last week, while the number of retail traders net-short is 17.10% 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.
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 Institutional traders created positions at both sides long +9129 & short +236 . As Institutional are still net-long in the overall market, and on the weekly chart we are still in uptrend. So as a long as S&P500 remains above 3200 on weekly basis we stay bullish