COT Stock Market Charts: Weekly Speculator Changes led by VIX & DowJones-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.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-214228" src="https://investmacro.com/wp-content/uploads/2023/07/COT-Stock-Futures-Open-Interest-Comparison.png" alt="" width="559" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/07/COT-Stock-Futures-Open-Interest-Comparison.png 559w, https://investmacro.com/wp-content/uploads/2023/07/COT-Stock-Futures-Open-Interest-Comparison-160×99.png 160w, https://investmacro.com/wp-content/uploads/2023/07/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>Monday July 3rd</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 VIX & DowJones-Mini</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes.png"><img data-dominant-color="0a0d12" data-has-transparency="true" style="–dominant-color: #0a0d12;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-214227" src="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes.png" alt="" width="559" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes.png 559w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes-160×99.png 160w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Futures-Speculator-Net-Position-Changes-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 five out of the seven stock markets we cover had higher positioning while the other three markets had lower speculator contracts.</p>
<p>Leading the gains for the stock markets was VIX (9,797 contracts) with the DowJones-Mini (5,840 contracts), the MSCI EAFE-Mini (4,241 contracts), the S&P500-Mini (1,011 contracts) and the Nikkei 225 (61 contracts) also showing positive weeks.</p>
<p>The markets with the declines in speculator bets this week were with the Nasdaq-Mini (-11,784 contracts) and the Russell-Mini (-3,810 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-03-2023</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>2,211,004</td>
<td>22</td>
<td>-207,239</td>
<td>34</td>
<td>205,791</td>
<td>68</td>
<td>1,448</td>
<td>45</td>
</tr>
<tr>
<td>Nikkei 225</td>
<td>16,359</td>
<td>17</td>
<td>-6,185</td>
<td>29</td>
<td>4,671</td>
<td>64</td>
<td>1,514</td>
<td>47</td>
</tr>
<tr>
<td>Nasdaq-Mini</td>
<td>248,698</td>
<td>29</td>
<td>5,458</td>
<td>80</td>
<td>-3,883</td>
<td>20</td>
<td>-1,575</td>
<td>50</td>
</tr>
<tr>
<td>DowJones-Mini</td>
<td>95,161</td>
<td>55</td>
<td>-13,082</td>
<td>37</td>
<td>14,236</td>
<td>63</td>
<td>-1,154</td>
<td>38</td>
</tr>
<tr>
<td>VIX</td>
<td>406,805</td>
<td>76</td>
<td>-54,924</td>
<td>79</td>
<td>58,022</td>
<td>17</td>
<td>-3,098</td>
<td>80</td>
</tr>
<tr>
<td>Nikkei 225 Yen</td>
<td>57,318</td>
<td>49</td>
<td>10,965</td>
<td>68</td>
<td>15,896</td>
<td>54</td>
<td>-26,861</td>
<td>20</td>
</tr>
</tbody>
</table>
</div>
<p> </p>
<hr />
<h2>Strength Scores led by Nasdaq-Mini & VIX</h2>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100.png"><img data-dominant-color="18263d" data-has-transparency="true" style="–dominant-color: #18263d;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-214226" src="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100.png" alt="" width="571" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100.png 571w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-160×97.png 160w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Scores-3-YR-Range-0-100-150×91.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 Nasdaq-Mini (80 percent) and the VIX (79 percent) lead the stock markets this week. The Nikkei 225 Yen (68 percent) and DowJones-Mini (37 percent) come in as the next highest in the weekly strength scores.</p>
<p>On the downside, the Nikkei 225 (29 percent) comes in at the lowest strength level currently with the next lowest strength score being the MSCI EAFE-Mini (30 percent).</p>
<p align="center"><strong>Strength Statistics:</strong><br />
VIX (79.4 percent) vs VIX previous week (72.2 percent)<br />
S&P500-Mini (33.8 percent) vs S&P500-Mini previous week (33.7 percent)<br />
DowJones-Mini (36.9 percent) vs DowJones-Mini previous week (20.4 percent)<br />
Nasdaq-Mini (80.3 percent) vs Nasdaq-Mini previous week (87.1 percent)<br />
Russell2000-Mini (31.5 percent) vs Russell2000-Mini previous week (33.8 percent)<br />
Nikkei USD (28.7 percent) vs Nikkei USD previous week (28.3 percent)<br />
EAFE-Mini (29.9 percent) vs EAFE-Mini previous week (24.7 percent)</p>
<p> </p>
<h2>S&P500-Mini & DowJones-Mini 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.png"><img data-dominant-color="1e1010" data-has-transparency="true" style="–dominant-color: #1e1010;" decoding="async" loading="lazy" class="has-transparency aligncenter size-full wp-image-214225" src="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks.png" alt="" width="551" height="345" srcset="https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks.png 551w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-160×100.png 160w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-150×94.png 150w, https://investmacro.com/wp-content/uploads/2023/07/Stocks-Speculator-Strength-Score-Trends-6-Weeks-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 (29 percent) leads the past six weeks trends for the stock markets. The DowJones-Mini (27 percent), the MSCI EAFE-Mini (11 percent) and the VIX (7 percent) are the next highest positive movers in the latest trends data.</p>
<p>The Russell-Mini (-11 percent) leads the downside trend scores currently with the Nasdaq-Mini (-5 percent) coming in as the next market with lower trend scores.</p>
<p align="center"><strong>Strength Trend Statistics:</strong><br />
VIX (7.1 percent) vs VIX previous week (-7.6 percent)<br />
S&P500-Mini (29.4 percent) vs S&P500-Mini previous week (26.9 percent)<br />
DowJones-Mini (27.3 percent) vs DowJones-Mini previous week (7.7 percent)<br />
Nasdaq-Mini (-5.2 percent) vs Nasdaq-Mini previous week (-1.6 percent)<br />
Russell2000-Mini (-11.2 percent) vs Russell2000-Mini previous week (0.2 percent)<br />
Nikkei USD (-4.4 percent) vs Nikkei USD previous week (-11.2 percent)<br />
EAFE-Mini (10.7 percent) vs EAFE-Mini previous week (1.0 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-07-07-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/VIX-07-07-2023.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 -54,924 contracts in the data reported through Tuesday. This was a weekly increase of 9,797 contracts from the previous week which had a total of -64,721 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 79.4 percent. The commercials are Bearish-Extreme with a score of 17.5 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 80.1 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">23.2</td>
<td width="189">50.2</td>
<td width="187">6.4</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">36.7</td>
<td width="189">35.9</td>
<td width="187">7.2</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-54,924</td>
<td width="189">58,022</td>
<td width="187">-3,098</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">94,274</td>
<td width="189">204,071</td>
<td width="187">26,095</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">149,198</td>
<td width="189">146,049</td>
<td width="187">29,193</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.6 to 1</td>
<td width="189">1.4 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">79.4</td>
<td width="189">17.5</td>
<td width="187">80.1</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-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">7.1</td>
<td width="189">-7.3</td>
<td width="187">2.2</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>S&P500 Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/ES-07-07-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/ES-07-07-2023.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 -207,239 contracts in the data reported through Tuesday. This was a weekly lift of 1,011 contracts from the previous week which had a total of -208,250 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 68.3 percent and the small traders (not shown in chart) are Bearish with a score of 44.7 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&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">10.1</td>
<td width="189">76.4</td>
<td width="187">11.1</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">19.5</td>
<td width="189">67.1</td>
<td width="187">11.1</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-207,239</td>
<td width="189">205,791</td>
<td width="187">1,448</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">223,358</td>
<td width="189">1,688,344</td>
<td width="187">245,999</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">430,597</td>
<td width="189">1,482,553</td>
<td width="187">244,551</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">1.0 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">33.8</td>
<td width="189">68.3</td>
<td width="187">44.7</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">29.4</td>
<td width="189">-29.8</td>
<td width="187">6.8</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>Dow Jones Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/YM-07-07-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/YM-07-07-2023.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 -13,082 contracts in the data reported through Tuesday. This was a weekly boost of 5,840 contracts from the previous week which had a total of -18,922 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 36.9 percent. The commercials are Bullish with a score of 62.7 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>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">25.5</td>
<td width="189">60.3</td>
<td width="187">13.4</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">39.2</td>
<td width="189">45.4</td>
<td width="187">14.7</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-13,082</td>
<td width="189">14,236</td>
<td width="187">-1,154</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">24,233</td>
<td width="189">57,403</td>
<td width="187">12,794</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">37,315</td>
<td width="189">43,167</td>
<td width="187">13,948</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">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">36.9</td>
<td width="189">62.7</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>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">27.3</td>
<td width="189">-23.8</td>
<td width="187">10.3</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>Nasdaq Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/NQ-07-07-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/NQ-07-07-2023.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 5,458 contracts in the data reported through Tuesday. This was a weekly decline of -11,784 contracts from the previous week which had a total of 17,242 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 80.3 percent. The commercials are Bearish with a score of 20.2 percent and the small traders (not shown in chart) are Bullish with a score of 50.4 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">28.4</td>
<td width="189">52.8</td>
<td width="187">16.1</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">26.2</td>
<td width="189">54.3</td>
<td width="187">16.7</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">5,458</td>
<td width="189">-3,883</td>
<td width="187">-1,575</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">70,707</td>
<td width="189">131,223</td>
<td width="187">40,005</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">65,249</td>
<td width="189">135,106</td>
<td width="187">41,580</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">1.1 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">80.3</td>
<td width="189">20.2</td>
<td width="187">50.4</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</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">-5.2</td>
<td width="189">1.2</td>
<td width="187">13.6</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>Russell 2000 Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/ER2-07-07-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/ER2-07-07-2023.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 -67,510 contracts in the data reported through Tuesday. This was a weekly decline of -3,810 contracts from the previous week which had a total of -63,700 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 31.5 percent. The commercials are Bullish with a score of 66.4 percent and the small traders (not shown in chart) are Bearish with a score of 37.9 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>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">10.3</td>
<td width="189">83.5</td>
<td width="187">4.7</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">23.4</td>
<td width="189">71.1</td>
<td width="187">4.0</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-67,510</td>
<td width="189">63,856</td>
<td width="187">3,654</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">52,926</td>
<td width="189">429,656</td>
<td width="187">24,280</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">120,436</td>
<td width="189">365,800</td>
<td width="187">20,626</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">31.5</td>
<td width="189">66.4</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</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">-11.2</td>
<td width="189">4.7</td>
<td width="187">31.4</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/2023/07/NKD-07-07-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/NKD-07-07-2023.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 -6,185 contracts in the data reported through Tuesday. This was a weekly gain of 61 contracts from the previous week which had a total of -6,246 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 28.7 percent. The commercials are Bullish with a score of 64.3 percent and the small traders (not shown in chart) are Bearish with a score of 47.3 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">8.9</td>
<td width="189">63.6</td>
<td width="187">27.5</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">46.7</td>
<td width="189">35.1</td>
<td width="187">18.2</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-6,185</td>
<td width="189">4,671</td>
<td width="187">1,514</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">1,460</td>
<td width="189">10,407</td>
<td width="187">4,492</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">7,645</td>
<td width="189">5,736</td>
<td width="187">2,978</td>
</tr>
<tr>
<td width="344" height="24">– Long to Short Ratio:</td>
<td width="188">0.2 to 1</td>
<td width="189">1.8 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">28.7</td>
<td width="189">64.3</td>
<td width="187">47.3</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>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">-4.4</td>
<td width="189">-1.4</td>
<td width="187">11.4</td>
</tr>
</tbody>
</table>
<p> </p>
<hr />
<h3><strong>MSCI EAFE Mini Futures:</strong></h3>
<p><a href="https://investmacro.com/wp-content/uploads/2023/07/EMI-07-07-2023.png"><img decoding="async" loading="lazy" class="aligncenter" src="https://investmacro.com/wp-content/uploads/2023/07/EMI-07-07-2023.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 -11,743 contracts in the data reported through Tuesday. This was a weekly rise of 4,241 contracts from the previous week which had a total of -15,984 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 29.9 percent. The commercials are Bullish with a score of 70.8 percent and the small traders (not shown in chart) are Bearish with a score of 26.9 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>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">6.5</td>
<td width="189">90.7</td>
<td width="187">2.1</td>
</tr>
<tr>
<td width="344" height="24">– Percent of Open Interest Shorts:</td>
<td width="188">9.5</td>
<td width="189">88.2</td>
<td width="187">1.6</td>
</tr>
<tr>
<td width="344" height="24">– Net Position:</td>
<td width="188">-11,743</td>
<td width="189">9,769</td>
<td width="187">1,974</td>
</tr>
<tr>
<td width="344" height="24">– Gross Longs:</td>
<td width="188">25,587</td>
<td width="189">356,504</td>
<td width="187">8,292</td>
</tr>
<tr>
<td width="344" height="24">– Gross Shorts:</td>
<td width="188">37,330</td>
<td width="189">346,735</td>
<td width="187">6,318</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">1.3 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">29.9</td>
<td width="189">70.8</td>
<td width="187">26.9</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">10.7</td>
<td width="189">-7.0</td>
<td width="187">-14.4</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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