Commitment of Traders (COT) S&P 500 Consolidated – 2020-10-27 – Market Overview
Commitment of Traders (COT) Report: S&P 500
The number of traders net-long is 7.48% higher from last week, while the number of traders net-short is 22.37% 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 US 500 price trend may soon reverse lower despite the fact traders remain net-short.
Institutions unwind-ed their huge longs because of profit booking mainly in Tech sector and unwind-ed few shorts ,
US Investor Sentiment, % Bull-Bear Spread is at 0.00%, compared to 2.71% last week and 7.33% last year. This is lower than the long term average of 7.27%.
Support: 3131-3237-3290
Resistance: 3383-3413-3486