Commitment of Traders (COT) S&P 500 Consolidated – 2020-09-15 – Market Overview

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

The number of traders net-long is 11.37% higher from last week, while the number of traders net-short is 2.35% 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. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed US 500 trading bias.

Institutions unwind-ed their huge longs because of profit booking mainly in Tech sector and created few shorts , if this heavy long unwinding continues and further short buildup seen on the institutional side, then there is a high probability to retrace the support of $3169 this time, however which is highly unlikely but one never know

US Investor Sentiment, % Bull-Bear Spread is at -8.37%, compared to -24.74% last week and 1.88% last year. This is lower than the long term average of 7.32%.

Support: 3131-3237-3290

Resistance: 3383-3413-3486