COT Stock Market Charts: Weekly Speculator Bets led by DowJones-Mini & S&P500-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/2023/07/COT-Stock-Futures-Open-Interest-Comparison-3.png"><img data-dominant-color="463717" data-has-transparency="true" style="–dominant-color: #463717;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-214769" src="https://investmacro.com/wp-content/uploads/2023/07/COT-Stock-Futures-Open-Interest-Comparison-3.png" alt="" width="559" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/07/COT-Stock-Futures-Open-Interest-Comparison-3.png 559w, https://investmacro.com/wp-content/uploads/2023/07/COT-Stock-Futures-Open-Interest-Comparison-3-160×99.png 160w, https://investmacro.com/wp-content/uploads/2023/07/COT-Stock-Futures-Open-Interest-Comparison-3-150×93.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 July 25th</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 DowJones-Mini &amp; S&amp;P500-Mini</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes-3.png"><img data-dominant-color="0c1016" data-has-transparency="true" style="–dominant-color: #0c1016;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-214766" src="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes-3.png" alt="" width="559" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes-3.png 559w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes-3-160×99.png 160w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes-3-150×93.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&amp;P500-Mini (31,070 contracts) with the DowJones-Mini (8,557 contracts) and the Nikkei 225 (265 contracts) also showing positive weeks.</p>
<p>The markets with the declines in speculator bets this week were the MSCI EAFE-Mini (-10,114 contracts) with the Nasdaq-Mini (-11,871 contracts), VIX (-1,853 contracts) and Russell-Mini (-3,067 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>Jul-25-2023</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&amp;P500-Mini</td>
<td>2,243,361</td>
<td>24</td>
<td>-232,615</td>
<td>30</td>
<td>215,413</td>
<td>70</td>
<td>17,202</td>
<td>50</td>
</tr>
<tr>
<td>Nikkei 225</td>
<td>16,314</td>
<td>17</td>
<td>-2,599</td>
<td>52</td>
<td>1,803</td>
<td>47</td>
<td>796</td>
<td>38</td>
</tr>
<tr>
<td>Nasdaq-Mini</td>
<td>260,623</td>
<td>37</td>
<td>-10,672</td>
<td>71</td>
<td>7,629</td>
<td>28</td>
<td>3,043</td>
<td>59</td>
</tr>
<tr>
<td>DowJones-Mini</td>
<td>111,965</td>
<td>84</td>
<td>1,416</td>
<td>78</td>
<td>234</td>
<td>34</td>
<td>-1,650</td>
<td>36</td>
</tr>
<tr>
<td>VIX</td>
<td>397,695</td>
<td>71</td>
<td>-42,142</td>
<td>89</td>
<td>46,392</td>
<td>9</td>
<td>-4,250</td>
<td>74</td>
</tr>
<tr>
<td>Nikkei 225 Yen</td>
<td>51,636</td>
<td>38</td>
<td>9,187</td>
<td>62</td>
<td>15,906</td>
<td>54</td>
<td>-25,093</td>
<td>26</td>
</tr>
</tbody>
</table>
</div>
<p>&nbsp;</p>
<hr />
<h2>Strength Scores led by VIX &amp; DowJones-Mini</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-3.png"><img data-dominant-color="1a2942" data-has-transparency="true" style="–dominant-color: #1a2942;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-214768" src="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-3.png" alt="" width="571" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-3.png 571w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-3-160×97.png 160w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-3-150×91.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 (89 percent) and the DowJones-Mini (78 percent) lead the stock markets this week. The Nasdaq-Mini (71 percent) comes in as the next highest in the weekly strength scores.</p>
<p>On the downside, the MSCI EAFE-Mini (6 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 S&amp;P500-Mini (30 percent).</p>
<p align="center"><strong>Strength Statistics:</strong><br />
VIX (88.7 percent) vs VIX previous week (90.1 percent)<br />
S&amp;P500-Mini (30.1 percent) vs S&amp;P500-Mini previous week (25.4 percent)<br />
DowJones-Mini (77.9 percent) vs DowJones-Mini previous week (53.7 percent)<br />
Nasdaq-Mini (71.1 percent) vs Nasdaq-Mini previous week (77.9 percent)<br />
Russell2000-Mini (30.7 percent) vs Russell2000-Mini previous week (32.5 percent)<br />
Nikkei USD (52.1 percent) vs Nikkei USD previous week (50.4 percent)<br />
EAFE-Mini (6.4 percent) vs EAFE-Mini previous week (18.8 percent)</p>
<p>&nbsp;</p>
<h2>DowJones-Mini &amp; Nikkei 225 top the 6-Week Strength Trends</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-3.png"><img data-dominant-color="1f1011" data-has-transparency="true" style="–dominant-color: #1f1011;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-214767" src="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-3.png" alt="" width="551" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-3.png 551w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-3-160×100.png 160w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-3-150×94.png 150w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-3-400×250.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 DowJones-Mini (48 percent) leads the past six weeks trends for the stock markets. The Nikkei 225 (26 percent), the VIX (19 percent) and the S&amp;P500-Mini (15 percent) are the next highest positive movers in the latest trends data.</p>
<p>The Nasdaq-Mini (-15 percent) leads the downside trend scores currently with the EAFE-Mini (-3 percent) coming in as the next market with lower trend scores.</p>
<p align="center"><strong>Strength Trend Statistics:</strong><br />
VIX (18.5 percent) vs VIX previous week (12.8 percent)<br />
S&amp;P500-Mini (14.7 percent) vs S&amp;P500-Mini previous week (12.1 percent)<br />
DowJones-Mini (48.1 percent) vs DowJones-Mini previous week (44.2 percent)<br />
Nasdaq-Mini (-15.1 percent) vs Nasdaq-Mini previous week (-4.4 percent)<br />
Russell2000-Mini (4.3 percent) vs Russell2000-Mini previous week (-1.9 percent)<br />
Nikkei USD (26.2 percent) vs Nikkei USD previous week (28.8 percent)<br />
EAFE-Mini (-2.8 percent) vs EAFE-Mini previous week (-1.9 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/2023/07/VIX-07-28-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/VIX-07-28-2023.png" alt="VIX Volatility Futures COT Chart" width="720" height="660" /></a>The VIX Volatility large speculator standing this week totaled a net position of -42,142 contracts in the data reported through Tuesday. This was a weekly decrease of -1,853 contracts from the previous week which had a total of -40,289 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 88.7 percent. The commercials are Bearish-Extreme with a score of 9.0 percent and the small traders (not shown in chart) are Bullish with a score of 74.2 percent.</p>
<h3>Price Trend-Following Model: Downtrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <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>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">24.7</td>
<td width="189">46.2</td>
<td width="187">6.0</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">35.3</td>
<td width="189">34.5</td>
<td width="187">7.0</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-42,142</td>
<td width="189">46,392</td>
<td width="187">-4,250</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">98,339</td>
<td width="189">183,709</td>
<td width="187">23,761</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">140,481</td>
<td width="189">137,317</td>
<td width="187">28,011</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.7 to 1</td>
<td width="189">1.3 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">88.7</td>
<td width="189">9.0</td>
<td width="187">74.2</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">18.5</td>
<td width="189">-15.5</td>
<td width="187">-19.3</td>
</tr>
</tbody>
</table>
<p>&nbsp;</p>
<hr />
<h3><strong>S&amp;P500 Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/ES-07-28-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/ES-07-28-2023.png" alt="SP500 Mini Futures COT Chart" width="720" height="660" /></a>The S&amp;P500 Mini large speculator standing this week totaled a net position of -232,615 contracts in the data reported through Tuesday. This was a weekly increase of 31,070 contracts from the previous week which had a total of -263,685 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 30.1 percent. The commercials are Bullish with a score of 69.6 percent and the small traders (not shown in chart) are Bullish with a score of 50.3 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>Hold – Maintain Long Position</strong>.</p>
<table border="0" width="908" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td width="344" height="24"><strong>S&amp;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">10.6</td>
<td width="189">75.4</td>
<td width="187">11.5</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">21.0</td>
<td width="189">65.8</td>
<td width="187">10.8</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-232,615</td>
<td width="189">215,413</td>
<td width="187">17,202</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">238,333</td>
<td width="189">1,692,161</td>
<td width="187">258,370</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">470,948</td>
<td width="189">1,476,748</td>
<td width="187">241,168</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">1.1 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">30.1</td>
<td width="189">69.6</td>
<td width="187">50.3</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>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">14.7</td>
<td width="189">-12.8</td>
<td width="187">-2.2</td>
</tr>
</tbody>
</table>
<p>&nbsp;</p>
<hr />
<h3><strong>Dow Jones Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/YM-07-28-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/YM-07-28-2023.png" alt="Dow Jones Mini Futures COT Chart" width="720" height="660" /></a>The Dow Jones Mini large speculator standing this week totaled a net position of 1,416 contracts in the data reported through Tuesday. This was a weekly gain of 8,557 contracts from the previous week which had a total of -7,141 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 77.9 percent. The commercials are Bearish with a score of 34.3 percent and the small traders (not shown in chart) are Bearish with a score of 35.8 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>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">31.7</td>
<td width="189">51.0</td>
<td width="187">12.7</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">30.4</td>
<td width="189">50.8</td>
<td width="187">14.2</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">1,416</td>
<td width="189">234</td>
<td width="187">-1,650</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">35,445</td>
<td width="189">57,124</td>
<td width="187">14,218</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">34,029</td>
<td width="189">56,890</td>
<td width="187">15,868</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">0.9 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">77.9</td>
<td width="189">34.3</td>
<td width="187">35.8</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">48.1</td>
<td width="189">-30.0</td>
<td width="187">-10.6</td>
</tr>
</tbody>
</table>
<p>&nbsp;</p>
<hr />
<h3><strong>Nasdaq Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/NQ-07-28-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/NQ-07-28-2023.png" alt="Nasdaq Mini Futures COT Chart" width="720" height="660" /></a>The Nasdaq Mini large speculator standing this week totaled a net position of -10,672 contracts in the data reported through Tuesday. This was a weekly lowering of -11,871 contracts from the previous week which had a total of 1,199 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 71.1 percent. The commercials are Bearish with a score of 27.6 percent and the small traders (not shown in chart) are Bullish with a score of 59.0 percent.</p>
<h3>Price Trend-Following Model: Uptrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>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">25.4</td>
<td width="189">56.2</td>
<td width="187">16.3</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">29.5</td>
<td width="189">53.3</td>
<td width="187">15.1</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-10,672</td>
<td width="189">7,629</td>
<td width="187">3,043</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">66,261</td>
<td width="189">146,469</td>
<td width="187">42,387</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">76,933</td>
<td width="189">138,840</td>
<td width="187">39,344</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.9 to 1</td>
<td width="189">1.1 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">71.1</td>
<td width="189">27.6</td>
<td width="187">59.0</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">-15.1</td>
<td width="189">5.8</td>
<td width="187">32.6</td>
</tr>
</tbody>
</table>
<p>&nbsp;</p>
<hr />
<h3><strong>Russell 2000 Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/ER2-07-28-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/ER2-07-28-2023.png" alt="Russell 2000 Mini Futures COT Chart" width="720" height="660" /></a>The Russell 2000 Mini large speculator standing this week totaled a net position of -68,769 contracts in the data reported through Tuesday. This was a weekly decline of -3,067 contracts from the previous week which had a total of -65,702 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 30.7 percent. The commercials are Bullish with a score of 66.2 percent and the small traders (not shown in chart) are Bearish with a score of 42.4 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>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">10.4</td>
<td width="189">82.3</td>
<td width="187">5.8</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">23.5</td>
<td width="189">70.2</td>
<td width="187">4.9</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-68,769</td>
<td width="189">63,644</td>
<td width="187">5,125</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">54,699</td>
<td width="189">433,206</td>
<td width="187">30,730</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">123,468</td>
<td width="189">369,562</td>
<td width="187">25,605</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">1.2 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">30.7</td>
<td width="189">66.2</td>
<td width="187">42.4</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">4.3</td>
<td width="189">-3.9</td>
<td width="187">-0.4</td>
</tr>
</tbody>
</table>
<p>&nbsp;</p>
<hr />
<h3><strong>Nikkei Stock Average (USD) Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/NKD-07-28-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/NKD-07-28-2023.png" alt="Nikkei Stock Average (USD) Futures COT Chart" width="720" height="660" /></a>The Nikkei Stock Average (USD) large speculator standing this week totaled a net position of -2,599 contracts in the data reported through Tuesday. This was a weekly lift of 265 contracts from the previous week which had a total of -2,864 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 52.1 percent. The commercials are Bearish with a score of 46.9 percent and the small traders (not shown in chart) are Bearish with a score of 38.3 percent.</p>
<h3>Price Trend-Following Model: Uptrend</h3>
<p>Our weekly trend-following model classifies the current market price position as: <strong>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">9.6</td>
<td width="189">64.5</td>
<td width="187">26.0</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">25.5</td>
<td width="189">53.4</td>
<td width="187">21.1</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-2,599</td>
<td width="189">1,803</td>
<td width="187">796</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">1,559</td>
<td width="189">10,519</td>
<td width="187">4,236</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">4,158</td>
<td width="189">8,716</td>
<td width="187">3,440</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">1.2 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">52.1</td>
<td width="189">46.9</td>
<td width="187">38.3</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">26.2</td>
<td width="189">-20.1</td>
<td width="187">-8.8</td>
</tr>
</tbody>
</table>
<p>&nbsp;</p>
<hr />
<h3><strong>MSCI EAFE Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/EMI-07-28-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/EMI-07-28-2023.png" alt="MSCI EAFE Mini Futures COT Chart" width="720" height="660" /></a>The MSCI EAFE Mini large speculator standing this week totaled a net position of -30,964 contracts in the data reported through Tuesday. This was a weekly decrease of -10,114 contracts from the previous week which had a total of -20,850 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 6.4 percent. The commercials are Bullish-Extreme with a score of 87.5 percent and the small traders (not shown in chart) are Bullish with a score of 54.0 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>Hold – Maintain Long 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">6.2</td>
<td width="189">90.1</td>
<td width="187">3.1</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">13.8</td>
<td width="189">84.3</td>
<td width="187">1.3</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-30,964</td>
<td width="189">23,535</td>
<td width="187">7,429</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">24,995</td>
<td width="189">365,843</td>
<td width="187">12,565</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">55,959</td>
<td width="189">342,308</td>
<td width="187">5,136</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.4 to 1</td>
<td width="189">1.1 to 1</td>
<td width="187">2.4 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">6.4</td>
<td width="189">87.5</td>
<td width="187">54.0</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-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">-2.8</td>
<td width="189">3.3</td>
<td width="187">-2.3</td>
</tr>
</tbody>
</table>
<p>&nbsp;</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><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>