Sunday, 10 August 2014

Banks Bearish But SPX Traders Seem Unworried By Ukraine, Mideast Conflict

Mixed news for equities in the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission.

My signal for the BKX U.S. Bank Index (a benchmark for U.S. financials) goes bearish on the coming week's open of trading based on the most recent COT data.

SPX Traders Boost Net Position

Meanwhile, my signal for the S&P 500 remains bullish. And the "smart money" commercial SPX hedgers got substantially more bullish in their futures and options net positioning as a portion of total open interest.

Seems like they're not too concerned about the stepped-up death toll in Gaza and Iraq, warnings of a possible open Russian invasion of Ukraine or the escalating Western-Russian sanctions war.

What do they know that we don't know?

See my latest signals table for all the details on how traders are positioning trillions of dollars in the markets, as reported in the COT reports.

Good luck this week.

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