COT Stock Market Charts: Weekly Speculator Bets led by S&P500-Mini & Russell-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-Comparison1-1.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-215628" src="https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison1-1.png" alt="" width="559" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison1-1.png 559w, https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison1-1-160×99.png 160w, https://investmacro.com/wp-content/uploads/2023/09/COT-Stock-Futures-Open-Interest-Comparison1-1-150×93.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 12th </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 & Russell-Mini</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-1.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-215629" src="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-1.png" alt="" width="559" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-1.png 559w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-1-160×99.png 160w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Futures-Speculator-Net-Position-Changes-1-150×93.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 higher this week as four 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 (27,878 contracts) with the Russell-Mini (8,096 contracts), the Nikkei 225 (656 contracts) and the VIX (3,384 contracts) also showing positive weeks.</p>
<p>The markets with the declines in speculator bets this week were the MSCI EAFE-Mini (-20,113 contracts) with the Nasdaq-Mini (-4,494 contracts) and the DowJones-Mini (-1,176 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-12-2023</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>2,520,164</td>
<td>48</td>
<td>-116,333</td>
<td>47</td>
<td>87,045</td>
<td>52</td>
<td>29,288</td>
<td>49</td>
</tr>
<tr>
<td>Nikkei 225</td>
<td>16,425</td>
<td>17</td>
<td>514</td>
<td>72</td>
<td>-918</td>
<td>30</td>
<td>404</td>
<td>33</td>
</tr>
<tr>
<td>Nasdaq-Mini</td>
<td>303,321</td>
<td>77</td>
<td>9,056</td>
<td>82</td>
<td>-9,508</td>
<td>17</td>
<td>452</td>
<td>66</td>
</tr>
<tr>
<td>DowJones-Mini</td>
<td>102,910</td>
<td>69</td>
<td>-12,900</td>
<td>37</td>
<td>12,437</td>
<td>59</td>
<td>463</td>
<td>46</td>
</tr>
<tr>
<td>VIX</td>
<td>418,072</td>
<td>81</td>
<td>-39,342</td>
<td>90</td>
<td>40,099</td>
<td>6</td>
<td>-757</td>
<td>92</td>
</tr>
<tr>
<td>Nikkei 225 Yen</td>
<td>46,463</td>
<td>29</td>
<td>3,889</td>
<td>46</td>
<td>6,646</td>
<td>29</td>
<td>-10,535</td>
<td>73</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-0-100-1.png"><img data-dominant-color="1b2b45" data-has-transparency="true" style="–dominant-color: #1b2b45;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-215630" src="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-1.png" alt="" width="571" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-1.png 571w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-1-160×97.png 160w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-1-150×91.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 (90 percent) and the Nasdaq-Mini (82 percent) lead the stock markets this week. The Nikkei 225 (72 percent) and S&P500-Mini (47 percent) come in as the next highest in the weekly strength scores.</p>
<p>On the downside, the MSCI EAFE-Mini (0 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 Russell-Mini (34 percent).</p>
<p align="center"><strong>Strength Statistics:</strong><br />
VIX (90.3 percent) vs VIX previous week (87.8 percent)<br />
S&P500-Mini (47.4 percent) vs S&P500-Mini previous week (43.2 percent)<br />
DowJones-Mini (37.4 percent) vs DowJones-Mini previous week (40.7 percent)<br />
Nasdaq-Mini (82.4 percent) vs Nasdaq-Mini previous week (85.0 percent)<br />
Russell2000-Mini (33.8 percent) vs Russell2000-Mini previous week (28.9 percent)<br />
Nikkei USD (72.4 percent) vs Nikkei USD previous week (68.2 percent)<br />
EAFE-Mini (0.0 percent) vs EAFE-Mini previous week (19.4 percent)</p>
<p> </p>
<h2>S&P500-Mini & Nasdaq-Mini top the 6-Week Strength Trends</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-1.png"><img data-dominant-color="1c1011" data-has-transparency="true" style="–dominant-color: #1c1011;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-215631" src="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-1.png" alt="" width="551" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-1.png 551w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-1-160×100.png 160w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-1-150×94.png 150w, https://investmacro.com/wp-content/uploads/2023/09/Stocks-Speculator-Strength-Score-Trends-6-Weeks-1-400×250.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 S&P500-Mini (13 percent) leads the past six weeks trends for the stock markets. The Nasdaq-Mini (12 percent), the Nikkei 225 (9 percent) and the VIX (2 percent) are the next highest positive movers in the latest trends data.</p>
<p>The DowJones-Mini (-41 percent) leads the downside trend scores currently with the MSCI EAFE-Mini (-33 percent) coming in as the next market with lower trend scores.</p>
<p align="center"><strong>Strength Trend Statistics:</strong><br />
VIX (2.1 percent) vs VIX previous week (-0.4 percent)<br />
S&P500-Mini (12.5 percent) vs S&P500-Mini previous week (13.2 percent)<br />
DowJones-Mini (-41.0 percent) vs DowJones-Mini previous week (-37.2 percent)<br />
Nasdaq-Mini (11.8 percent) vs Nasdaq-Mini previous week (13.9 percent)<br />
Russell2000-Mini (1.6 percent) vs Russell2000-Mini previous week (-1.8 percent)<br />
Nikkei USD (8.9 percent) vs Nikkei USD previous week (16.0 percent)<br />
EAFE-Mini (-32.8 percent) vs EAFE-Mini previous week (-6.9 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/2023/09/VIX-09-15-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/VIX-09-15-2023.png" alt="VIX Volatility Futures COT Chart" width="720" height="660" /></a>The VIX Volatility large speculator standing this week equaled a net position of -39,342 contracts in the data reported through Tuesday. This was a weekly boost of 3,384 contracts from the previous week which had a total of -42,726 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 90.3 percent. The commercials are Bearish-Extreme with a score of 6.2 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 91.9 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>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">24.9</td>
<td width="189">46.0</td>
<td width="187">6.5</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">34.3</td>
<td width="189">36.4</td>
<td width="187">6.7</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-39,342</td>
<td width="189">40,099</td>
<td width="187">-757</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">104,179</td>
<td width="189">192,419</td>
<td width="187">27,224</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">143,521</td>
<td width="189">152,320</td>
<td width="187">27,981</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">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">90.3</td>
<td width="189">6.2</td>
<td width="187">91.9</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-Extreme</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">2.1</td>
<td width="189">-3.0</td>
<td width="187">6.8</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-09-15-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/ES-09-15-2023.png" alt="SP500 Mini Futures COT Chart" width="720" height="660" /></a>The S&P500 Mini large speculator standing this week equaled a net position of -116,333 contracts in the data reported through Tuesday. This was a weekly increase of 27,878 contracts from the previous week which had a total of -144,211 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 47.4 percent. The commercials are Bullish with a score of 51.9 percent and the small traders (not shown in chart) are Bearish with a score of 48.9 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>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">11.1</td>
<td width="189">72.3</td>
<td width="187">11.4</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">15.7</td>
<td width="189">68.8</td>
<td width="187">10.2</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-116,333</td>
<td width="189">87,045</td>
<td width="187">29,288</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">279,471</td>
<td width="189">1,821,412</td>
<td width="187">286,894</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">395,804</td>
<td width="189">1,734,367</td>
<td width="187">257,606</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.7 to 1</td>
<td width="189">1.1 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">47.4</td>
<td width="189">51.9</td>
<td width="187">48.9</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">12.5</td>
<td width="189">-13.6</td>
<td width="187">5.8</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-09-15-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/YM-09-15-2023.png" alt="Dow Jones Mini Futures COT Chart" width="720" height="660" /></a>The Dow Jones Mini large speculator standing this week equaled a net position of -12,900 contracts in the data reported through Tuesday. This was a weekly fall of -1,176 contracts from the previous week which had a total of -11,724 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 37.4 percent. The commercials are Bullish with a score of 59.1 percent and the small traders (not shown in chart) are Bearish with a score of 46.1 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>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">22.1</td>
<td width="189">58.9</td>
<td width="187">14.2</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">34.7</td>
<td width="189">46.8</td>
<td width="187">13.7</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-12,900</td>
<td width="189">12,437</td>
<td width="187">463</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">22,788</td>
<td width="189">60,631</td>
<td width="187">14,578</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">35,688</td>
<td width="189">48,194</td>
<td width="187">14,115</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.6 to 1</td>
<td width="189">1.3 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">37.4</td>
<td width="189">59.1</td>
<td width="187">46.1</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">-41.0</td>
<td width="189">28.2</td>
<td width="187">2.9</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-09-15-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/NQ-09-15-2023.png" alt="Nasdaq Mini Futures COT Chart" width="720" height="660" /></a>The Nasdaq Mini large speculator standing this week equaled a net position of 9,056 contracts in the data reported through Tuesday. This was a weekly decline of -4,494 contracts from the previous week which had a total of 13,550 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 82.4 percent. The commercials are Bearish-Extreme with a score of 16.5 percent and the small traders (not shown in chart) are Bullish with a score of 66.2 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">22.6</td>
<td width="189">56.6</td>
<td width="187">14.8</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">19.7</td>
<td width="189">59.7</td>
<td width="187">14.7</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">9,056</td>
<td width="189">-9,508</td>
<td width="187">452</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">68,674</td>
<td width="189">171,570</td>
<td width="187">44,891</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">59,618</td>
<td width="189">181,078</td>
<td width="187">44,439</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">1.2 to 1</td>
<td width="189">0.9 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">82.4</td>
<td width="189">16.5</td>
<td width="187">66.2</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">11.8</td>
<td width="189">-13.8</td>
<td width="187">2.1</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/ER2-09-15-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/ER2-09-15-2023.png" alt="Russell 2000 Mini Futures COT Chart" width="720" height="660" /></a>The Russell 2000 Mini large speculator standing this week equaled a net position of -63,615 contracts in the data reported through Tuesday. This was a weekly rise of 8,096 contracts from the previous week which had a total of -71,711 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 33.8 percent. The commercials are Bullish with a score of 63.7 percent and the small traders (not shown in chart) are Bearish with a score of 40.7 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>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">8.7</td>
<td width="189">81.9</td>
<td width="187">5.8</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">20.5</td>
<td width="189">71.0</td>
<td width="187">4.9</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-63,615</td>
<td width="189">59,033</td>
<td width="187">4,582</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">47,088</td>
<td width="189">443,198</td>
<td width="187">31,308</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">110,703</td>
<td width="189">384,165</td>
<td width="187">26,726</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">33.8</td>
<td width="189">63.7</td>
<td width="187">40.7</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">1.6</td>
<td width="189">-1.8</td>
<td width="187">1.8</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-09-15-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/NKD-09-15-2023.png" alt="Nikkei Stock Average (USD) Futures COT Chart" width="720" height="660" /></a>The Nikkei Stock Average (USD) large speculator standing this week equaled a net position of 514 contracts in the data reported through Tuesday. This was a weekly rise of 656 contracts from the previous week which had a total of -142 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 72.4 percent. The commercials are Bearish with a score of 30.3 percent and the small traders (not shown in chart) are Bearish with a score of 33.4 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>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">10.9</td>
<td width="189">68.5</td>
<td width="187">20.6</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">7.8</td>
<td width="189">74.1</td>
<td width="187">18.1</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">514</td>
<td width="189">-918</td>
<td width="187">404</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">1,793</td>
<td width="189">11,249</td>
<td width="187">3,383</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">1,279</td>
<td width="189">12,167</td>
<td width="187">2,979</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">1.4 to 1</td>
<td width="189">0.9 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">72.4</td>
<td width="189">30.3</td>
<td width="187">33.4</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">8.9</td>
<td width="189">-3.1</td>
<td width="187">-10.6</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-09-15-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/09/EMI-09-15-2023.png" alt="MSCI EAFE Mini Futures COT Chart" width="720" height="660" /></a>The MSCI EAFE Mini large speculator standing this week equaled a net position of -58,192 contracts in the data reported through Tuesday. This was a weekly lowering of -20,113 contracts from the previous week which had a total of -38,079 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 0.0 percent. The commercials are Bullish-Extreme with a score of 100.0 percent and the small traders (not shown in chart) are Bearish with a score of 37.9 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>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">4.9</td>
<td width="189">90.3</td>
<td width="187">2.8</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">17.6</td>
<td width="189">78.6</td>
<td width="187">1.9</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-58,192</td>
<td width="189">54,008</td>
<td width="187">4,184</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">22,550</td>
<td width="189">415,412</td>
<td width="187">12,927</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">80,742</td>
<td width="189">361,404</td>
<td width="187">8,743</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.3 to 1</td>
<td width="189">1.1 to 1</td>
<td width="187">1.5 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">0.0</td>
<td width="189">100.0</td>
<td width="187">37.9</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>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">-32.8</td>
<td width="189">35.7</td>
<td width="187">-13.4</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><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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