COT Stock Market Charts: Speculator Bets led by S&P500-Mini & MSCI EAFE-Mini
<p><strong>By <a href="https://www.investmacro.com/"><u>InvestMacro</u></a></strong></p>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison.png"><img data-dominant-color="463817" data-has-transparency="true" style="–dominant-color: #463817;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-215869" src="https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison.png" alt="" width="559" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison.png 559w, https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison-160×99.png 160w, https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison-150×93.png 150w" sizes="(max-width: 559px) 100vw, 559px" /></a></p>
<p>Here are the latest charts and statistics for the <a href="https://www.investmacro.com/cot/">Commitment of Traders (COT)</a> data published by the Commodities Futures Trading Commission (CFTC).</p>
<p>The latest COT data is updated through <b>Tuesday September 26th</b> and shows a quick view of how large traders (<a href="https://investmacro.com/cot-reports/">for-profit speculators</a> and commercial entities) were positioned in the futures markets.</p>
<h2>Weekly Speculator Changes led by S&P500-Mini & MSCI EAFE-Mini</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-2.png"><img data-dominant-color="0c1017" data-has-transparency="true" style="–dominant-color: #0c1017;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-215868" src="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-2.png" alt="" width="559" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-2.png 559w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-2-160×99.png 160w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-2-150×93.png 150w" sizes="(max-width: 559px) 100vw, 559px" /></a></p>
<p>The COT <a href="https://investmacro.com/stock-market-news/">stock markets</a> speculator bets were lower this week as three out of the seven stock markets we cover had higher positioning while the other four markets had lower speculator contracts.</p>
<p>Leading the gains for the stock markets was the S&P500-Mini (49,710 contracts) with the MSCI EAFE-Mini (4,923 contracts) and the Russell-Mini (1,959 contracts) also showing positive weeks.</p>
<p>The markets with the declines in speculator bets this week were the VIX (-24,019 contracts) with the DowJones-Mini (-3,849 contracts), the Nasdaq-Mini (-2,348 contracts) and the Nikkei 225 (-196 contracts) also registering lower bets on the week.</p>
<hr />
<div>Data Snapshot of Stock Market Traders | <a href="https://www.investmacro.com/wp-content/uploads/2021/04/Data_Tables_Labels-2.png"><u>Columns Legend</u></a></div>
<div>
<table border="1">
<thead>
<tr>
<th>Sep-26-2023</th>
<th>OI</th>
<th>OI-Index</th>
<th>Spec-Net</th>
<th>Spec-Index</th>
<th>Com-Net</th>
<th>COM-Index</th>
<th>Smalls-Net</th>
<th>Smalls-Index</th>
</tr>
</thead>
<tbody>
<tr>
<td>S&P500-Mini</td>
<td>2,137,648</td>
<td>15</td>
<td>-89,281</td>
<td>51</td>
<td>65,622</td>
<td>49</td>
<td>23,659</td>
<td>47</td>
</tr>
<tr>
<td>Nikkei 225</td>
<td>15,483</td>
<td>15</td>
<td>-610</td>
<td>62</td>
<td>-1,200</td>
<td>29</td>
<td>1,810</td>
<td>51</td>
</tr>
<tr>
<td>Nasdaq-Mini</td>
<td>241,018</td>
<td>29</td>
<td>846</td>
<td>66</td>
<td>-992</td>
<td>36</td>
<td>146</td>
<td>66</td>
</tr>
<tr>
<td>DowJones-Mini</td>
<td>92,551</td>
<td>51</td>
<td>-21,618</td>
<td>13</td>
<td>19,472</td>
<td>73</td>
<td>2,146</td>
<td>54</td>
</tr>
<tr>
<td>VIX</td>
<td>384,930</td>
<td>64</td>
<td>-52,835</td>
<td>80</td>
<td>58,631</td>
<td>19</td>
<td>-5,796</td>
<td>66</td>
</tr>
<tr>
<td>Nikkei 225 Yen</td>
<td>53,690</td>
<td>42</td>
<td>10,779</td>
<td>67</td>
<td>7,032</td>
<td>30</td>
<td>-17,811</td>
<td>49</td>
</tr>
</tbody>
</table>
</div>
<p> </p>
<hr />
<h2>Strength Scores led by VIX & Nasdaq-Mini</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-2.png"><img data-dominant-color="1a2841" data-has-transparency="true" style="–dominant-color: #1a2841;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-215867" src="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-2.png" alt="" width="571" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-2.png 571w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-2-160×97.png 160w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-2-150×91.png 150w" sizes="(max-width: 571px) 100vw, 571px" /></a></p>
<p><a href="https://investmacro.com/cot-leaders/#specs">COT Strength Scores</a> (a normalized measure of Speculator positions over a 3-Year range, from 0 to 100 where above 80 is Extreme-Bullish and below 20 is Extreme-Bearish) showed that the VIX (80 percent) currently leads the stock markets this week and is in Extreme-Bullish territory (above 80 percent). The Nasdaq-Mini (66 percent) and Nikkei 225 (62 percent) come in as the next highest in the weekly strength scores.</p>
<p>On the downside, the DowJones-Mini (13 percent) comes in at the lowest strength level currently and is in Extreme-Bearish territory (below 20 percent). The next lowest strength score is the MSCI EAFE-Mini (32 percent).</p>
<p align="center"><strong>Strength Statistics:</strong><br />
VIX (80.4 percent) vs VIX previous week (97.9 percent)<br />
S&P500-Mini (51.4 percent) vs S&P500-Mini previous week (44.0 percent)<br />
DowJones-Mini (12.7 percent) vs DowJones-Mini previous week (23.6 percent)<br />
Nasdaq-Mini (66.2 percent) vs Nasdaq-Mini previous week (68.2 percent)<br />
Russell2000-Mini (35.0 percent) vs Russell2000-Mini previous week (33.8 percent)<br />
Nikkei USD (62.4 percent) vs Nikkei USD previous week (63.8 percent)<br />
EAFE-Mini (31.7 percent) vs EAFE-Mini previous week (27.0 percent)</p>
<p> </p>
<h2>Russell-Mini tops the 6-Week Strength Trends</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-2.png"><img data-dominant-color="191010" data-has-transparency="true" style="–dominant-color: #191010;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-215866" src="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-2.png" alt="" width="551" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-2.png 551w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-2-160×100.png 160w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-2-150×94.png 150w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-2-400×250.png 400w" sizes="(max-width: 551px) 100vw, 551px" /></a></p>
<p><a href="https://investmacro.com/cot-leaders/#specs">COT Strength Score Trends</a> (or move index, calculates the 6-week changes in strength scores) showed that the Russell-Mini (6 percent) leads the past six weeks trends for the stock markets. The S&P500-Mini (4 percent) and the Nikkei 225 (1 percent) are the next highest positive movers in the latest trends data.</p>
<p>The DowJones-Mini (-52 percent) leads the downside trend scores currently with the VIX (-20 percent) coming in as the next market with lower trend scores.</p>
<p align="center"><strong>Strength Trend Statistics:</strong><br />
VIX (-19.6 percent) vs VIX previous week (11.4 percent)<br />
S&P500-Mini (4.3 percent) vs S&P500-Mini previous week (3.1 percent)<br />
DowJones-Mini (-52.1 percent) vs DowJones-Mini previous week (-61.7 percent)<br />
Nasdaq-Mini (-3.8 percent) vs Nasdaq-Mini previous week (12.3 percent)<br />
Russell2000-Mini (5.8 percent) vs Russell2000-Mini previous week (0.6 percent)<br />
Nikkei USD (0.6 percent) vs Nikkei USD previous week (1.8 percent)<br />
EAFE-Mini (-1.8 percent) vs EAFE-Mini previous week (-7.1 percent)</p>
<hr />
<h5>Individual Stock Market Charts:</h5>
<h3><strong>VIX Volatility Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/VIX-09-29-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/VIX-09-29-2023.png" alt="VIX Volatility Futures COT Chart" width="720" height="660" /></a>The VIX Volatility large speculator standing this week reached a net position of -52,835 contracts in the data reported through Tuesday. This was a weekly lowering of -24,019 contracts from the previous week which had a total of -28,816 net contracts.</p>
<p>This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish-Extreme with a score of 80.4 percent. The commercials are Bearish-Extreme with a score of 19.3 percent and the small traders (not shown in chart) are Bullish with a score of 66.4 percent.</p>
<h3>Price Trend-Following Model: Strong Uptrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>Strong Uptrend</strong>. The current action for the model is considered to be: <strong>New Buy – Long Position</strong>.</p>
<table border="0" width="908" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td width="344" height="24"><strong>VIX Volatility Futures Statistics</strong></td>
<td width="188"><strong>SPECULATORS</strong></td>
<td width="189"><strong>COMMERCIALS</strong></td>
<td width="187"><strong>SMALL TRADERS</strong></td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Longs:</td>
<td width="188">22.4</td>
<td width="189">47.2</td>
<td width="187">6.4</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">36.2</td>
<td width="189">32.0</td>
<td width="187">7.9</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-52,835</td>
<td width="189">58,631</td>
<td width="187">-5,796</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">86,408</td>
<td width="189">181,651</td>
<td width="187">24,727</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">139,243</td>
<td width="189">123,020</td>
<td width="187">30,523</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.6 to 1</td>
<td width="189">1.5 to 1</td>
<td width="187">0.8 to 1</td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION TREND:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Score (3 Year Range Pct):</td>
<td width="188">80.4</td>
<td width="189">19.3</td>
<td width="187">66.4</td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Reading (3 Year Range):</td>
<td width="188"><strong>Bullish-Extreme</strong></td>
<td width="189"><strong>Bearish-Extreme</strong></td>
<td width="187"><strong>Bullish</strong></td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION MOVEMENT INDEX:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– 6-Week Change in Strength Index:</td>
<td width="188">-19.6</td>
<td width="189">19.2</td>
<td width="187">-0.9</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>S&P500 Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/ES-09-29-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/ES-09-29-2023.png" alt="SP500 Mini Futures COT Chart" width="720" height="660" /></a>The S&P500 Mini large speculator standing this week reached a net position of -89,281 contracts in the data reported through Tuesday. This was a weekly lift of 49,710 contracts from the previous week which had a total of -138,991 net contracts.</p>
<p>This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 51.4 percent. The commercials are Bearish with a score of 49.0 percent and the small traders (not shown in chart) are Bearish with a score of 46.6 percent.</p>
<h3>Price Trend-Following Model: Weak Uptrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>Weak Uptrend</strong>. The current action for the model is considered to be: <strong>Hold – Maintain Long Position</strong>.</p>
<table border="0" width="908" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td width="344" height="24"><strong>S&P500 Mini Futures Statistics</strong></td>
<td width="188"><strong>SPECULATORS</strong></td>
<td width="189"><strong>COMMERCIALS</strong></td>
<td width="187"><strong>SMALL TRADERS</strong></td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Longs:</td>
<td width="188">12.4</td>
<td width="189">73.0</td>
<td width="187">11.8</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">16.6</td>
<td width="189">69.9</td>
<td width="187">10.7</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-89,281</td>
<td width="189">65,622</td>
<td width="187">23,659</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">266,095</td>
<td width="189">1,560,014</td>
<td width="187">251,580</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">355,376</td>
<td width="189">1,494,392</td>
<td width="187">227,921</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.7 to 1</td>
<td width="189">1.0 to 1</td>
<td width="187">1.1 to 1</td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION TREND:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Score (3 Year Range Pct):</td>
<td width="188">51.4</td>
<td width="189">49.0</td>
<td width="187">46.6</td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Reading (3 Year Range):</td>
<td width="188"><strong>Bullish</strong></td>
<td width="189"><strong>Bearish</strong></td>
<td width="187"><strong>Bearish</strong></td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION MOVEMENT INDEX:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– 6-Week Change in Strength Index:</td>
<td width="188">4.3</td>
<td width="189">-4.2</td>
<td width="187">0.6</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>Dow Jones Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/YM-09-29-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/YM-09-29-2023.png" alt="Dow Jones Mini Futures COT Chart" width="720" height="660" /></a>The Dow Jones Mini large speculator standing this week reached a net position of -21,618 contracts in the data reported through Tuesday. This was a weekly lowering of -3,849 contracts from the previous week which had a total of -17,769 net contracts.</p>
<p>This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish-Extreme with a score of 12.7 percent. The commercials are Bullish with a score of 73.3 percent and the small traders (not shown in chart) are Bullish with a score of 54.4 percent.</p>
<h3>Price Trend-Following Model: Weak Uptrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>Weak Uptrend</strong>. The current action for the model is considered to be: <strong>Hold – Maintain Long Position</strong>.</p>
<table border="0" width="908" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td width="344" height="24"><strong>Dow Jones Mini Futures Statistics</strong></td>
<td width="188"><strong>SPECULATORS</strong></td>
<td width="189"><strong>COMMERCIALS</strong></td>
<td width="187"><strong>SMALL TRADERS</strong></td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Longs:</td>
<td width="188">19.7</td>
<td width="189">62.3</td>
<td width="187">15.7</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">43.1</td>
<td width="189">41.3</td>
<td width="187">13.4</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-21,618</td>
<td width="189">19,472</td>
<td width="187">2,146</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">18,237</td>
<td width="189">57,681</td>
<td width="187">14,570</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">39,855</td>
<td width="189">38,209</td>
<td width="187">12,424</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.5 to 1</td>
<td width="189">1.5 to 1</td>
<td width="187">1.2 to 1</td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION TREND:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Score (3 Year Range Pct):</td>
<td width="188">12.7</td>
<td width="189">73.3</td>
<td width="187">54.4</td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Reading (3 Year Range):</td>
<td width="188"><strong>Bearish-Extreme</strong></td>
<td width="189"><strong>Bullish</strong></td>
<td width="187"><strong>Bullish</strong></td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION MOVEMENT INDEX:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– 6-Week Change in Strength Index:</td>
<td width="188">-52.1</td>
<td width="189">33.7</td>
<td width="187">8.8</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>Nasdaq Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/NQ-09-29-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/NQ-09-29-2023.png" alt="Nasdaq Mini Futures COT Chart" width="720" height="660" /></a>The Nasdaq Mini large speculator standing this week reached a net position of 846 contracts in the data reported through Tuesday. This was a weekly decline of -2,348 contracts from the previous week which had a total of 3,194 net contracts.</p>
<p>This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 66.2 percent. The commercials are Bearish with a score of 35.8 percent and the small traders (not shown in chart) are Bullish with a score of 66.0 percent.</p>
<h3>Price Trend-Following Model: Weak Uptrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>Weak Uptrend</strong>. The current action for the model is considered to be: <strong>Hold – Maintain Long Position</strong>.</p>
<table border="0" width="908" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td width="344" height="24"><strong>Nasdaq Mini Futures Statistics</strong></td>
<td width="188"><strong>SPECULATORS</strong></td>
<td width="189"><strong>COMMERCIALS</strong></td>
<td width="187"><strong>SMALL TRADERS</strong></td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Longs:</td>
<td width="188">24.2</td>
<td width="189">58.2</td>
<td width="187">16.6</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">23.8</td>
<td width="189">58.6</td>
<td width="187">16.5</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">846</td>
<td width="189">-992</td>
<td width="187">146</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">58,307</td>
<td width="189">140,156</td>
<td width="187">39,946</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">57,461</td>
<td width="189">141,148</td>
<td width="187">39,800</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">1.0 to 1</td>
<td width="189">1.0 to 1</td>
<td width="187">1.0 to 1</td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION TREND:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Score (3 Year Range Pct):</td>
<td width="188">66.2</td>
<td width="189">35.8</td>
<td width="187">66.0</td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Reading (3 Year Range):</td>
<td width="188"><strong>Bullish</strong></td>
<td width="189"><strong>Bearish</strong></td>
<td width="187"><strong>Bullish</strong></td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION MOVEMENT INDEX:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– 6-Week Change in Strength Index:</td>
<td width="188">-3.8</td>
<td width="189">3.9</td>
<td width="187">1.4</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>Russell 2000 Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/ER2-09-29-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/ER2-09-29-2023.png" alt="Russell 2000 Mini Futures COT Chart" width="720" height="660" /></a>The Russell 2000 Mini large speculator standing this week reached a net position of -61,602 contracts in the data reported through Tuesday. This was a weekly rise of 1,959 contracts from the previous week which had a total of -63,561 net contracts.</p>
<p>This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 35.0 percent. The commercials are Bullish with a score of 63.8 percent and the small traders (not shown in chart) are Bearish with a score of 33.8 percent.</p>
<h3>Price Trend-Following Model: Weak Uptrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>Weak Uptrend</strong>. The current action for the model is considered to be: <strong>Hold – Maintain Long Position</strong>.</p>
<table border="0" width="908" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td width="344" height="24"><strong>Russell 2000 Mini Futures Statistics</strong></td>
<td width="188"><strong>SPECULATORS</strong></td>
<td width="189"><strong>COMMERCIALS</strong></td>
<td width="187"><strong>SMALL TRADERS</strong></td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Longs:</td>
<td width="188">7.7</td>
<td width="189">85.2</td>
<td width="187">5.4</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">21.0</td>
<td width="189">72.4</td>
<td width="187">4.9</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-61,602</td>
<td width="189">59,276</td>
<td width="187">2,326</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">35,566</td>
<td width="189">393,907</td>
<td width="187">24,965</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">97,168</td>
<td width="189">334,631</td>
<td width="187">22,639</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.4 to 1</td>
<td width="189">1.2 to 1</td>
<td width="187">1.1 to 1</td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION TREND:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Score (3 Year Range Pct):</td>
<td width="188">35.0</td>
<td width="189">63.8</td>
<td width="187">33.8</td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Reading (3 Year Range):</td>
<td width="188"><strong>Bearish</strong></td>
<td width="189"><strong>Bullish</strong></td>
<td width="187"><strong>Bearish</strong></td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION MOVEMENT INDEX:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– 6-Week Change in Strength Index:</td>
<td width="188">5.8</td>
<td width="189">-4.8</td>
<td width="187">-3.5</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>Nikkei Stock Average (USD) Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/NKD-09-29-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/NKD-09-29-2023.png" alt="Nikkei Stock Average (USD) Futures COT Chart" width="720" height="660" /></a>The Nikkei Stock Average (USD) large speculator standing this week reached a net position of -610 contracts in the data reported through Tuesday. This was a weekly reduction of -196 contracts from the previous week which had a total of -414 net contracts.</p>
<p>This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 62.4 percent. The commercials are Bearish with a score of 28.6 percent and the small traders (not shown in chart) are Bullish with a score of 51.1 percent.</p>
<h3>Price Trend-Following Model: Weak Uptrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>Weak Uptrend</strong>. The current action for the model is considered to be: <strong>Hold – Maintain Long Position</strong>.</p>
<table border="0" width="908" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td width="344" height="24"><strong>Nikkei Stock Average Futures Statistics</strong></td>
<td width="188"><strong>SPECULATORS</strong></td>
<td width="189"><strong>COMMERCIALS</strong></td>
<td width="187"><strong>SMALL TRADERS</strong></td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Longs:</td>
<td width="188">8.6</td>
<td width="189">67.1</td>
<td width="187">24.4</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">12.5</td>
<td width="189">74.8</td>
<td width="187">12.7</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-610</td>
<td width="189">-1,200</td>
<td width="187">1,810</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">1,325</td>
<td width="189">10,385</td>
<td width="187">3,773</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">1,935</td>
<td width="189">11,585</td>
<td width="187">1,963</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.7 to 1</td>
<td width="189">0.9 to 1</td>
<td width="187">1.9 to 1</td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION TREND:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Score (3 Year Range Pct):</td>
<td width="188">62.4</td>
<td width="189">28.6</td>
<td width="187">51.1</td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Reading (3 Year Range):</td>
<td width="188"><strong>Bullish</strong></td>
<td width="189"><strong>Bearish</strong></td>
<td width="187"><strong>Bullish</strong></td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION MOVEMENT INDEX:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– 6-Week Change in Strength Index:</td>
<td width="188">0.6</td>
<td width="189">-3.7</td>
<td width="187">6.5</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>MSCI EAFE Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/EMI-09-29-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/EMI-09-29-2023.png" alt="MSCI EAFE Mini Futures COT Chart" width="720" height="660" /></a>The MSCI EAFE Mini large speculator standing this week reached a net position of -25,328 contracts in the data reported through Tuesday. This was a weekly gain of 4,923 contracts from the previous week which had a total of -30,251 net contracts.</p>
<p>This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bearish with a score of 31.7 percent. The commercials are Bullish with a score of 69.6 percent and the small traders (not shown in chart) are Bearish with a score of 29.5 percent.</p>
<h3>Price Trend-Following Model: Strong Downtrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>Strong Downtrend</strong>. The current action for the model is considered to be: <strong>Hold – Maintain Short Position</strong>.</p>
<table border="0" width="908" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td width="344" height="24"><strong>MSCI EAFE Mini Futures Statistics</strong></td>
<td width="188"><strong>SPECULATORS</strong></td>
<td width="189"><strong>COMMERCIALS</strong></td>
<td width="187"><strong>SMALL TRADERS</strong></td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Longs:</td>
<td width="188">7.5</td>
<td width="189">89.4</td>
<td width="187">2.2</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">14.1</td>
<td width="189">83.5</td>
<td width="187">1.6</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-25,328</td>
<td width="189">22,834</td>
<td width="187">2,494</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">29,019</td>
<td width="189">344,909</td>
<td width="187">8,675</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">54,347</td>
<td width="189">322,075</td>
<td width="187">6,181</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.5 to 1</td>
<td width="189">1.1 to 1</td>
<td width="187">1.4 to 1</td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION TREND:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Score (3 Year Range Pct):</td>
<td width="188">31.7</td>
<td width="189">69.6</td>
<td width="187">29.5</td>
</tr>
<tr>
<td width="344" height="24">– Strength Index Reading (3 Year Range):</td>
<td width="188"><strong>Bearish</strong></td>
<td width="189"><strong>Bullish</strong></td>
<td width="187"><strong>Bearish</strong></td>
</tr>
<tr>
<td width="344" height="24"><strong>NET POSITION MOVEMENT INDEX:</strong></td>
<td width="188"></td>
<td width="189"></td>
<td width="187"></td>
</tr>
<tr>
<td width="344" height="24">– 6-Week Change in Strength Index:</td>
<td width="188">-1.8</td>
<td width="189">5.8</td>
<td width="187">-20.7</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<p>Article <strong>By InvestMacro</strong> – <b>Receive our weekly <a href="https://investmacro.com/cot-newsletter/">COT Newsletter</a></b></p>
<p>See our <a href="https://investmacro.com/major-markets-trend-model/" target="_blank" rel="noopener"><b>Weekly Trend Model Readings and Actions</b></a> for each <a href="https://investmacro.com/cot/?swcfpc=1">COT Futures</a> Market and Category. All information contained in this data are for general informational purposes only and do not constitute investment advice.</p>
<p><strong>*</strong><a href="https://www.investmacro.com/cot-reports/">COT Report</a>: The <a href="https://investmacro.com/cot-data/">COT data</a>, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) were positioned in the futures markets.</p>
<p>The CFTC categorizes trader positions according to <a href="https://investmacro.com/cot-reports/">commercial hedgers</a> (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators) as well as their <a href="https://investmacro.com/open-interest-analysis/">open interest</a> (contracts open in the market at time of reporting). See CFTC criteria <a href="https://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm">here</a>.</p>
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