Investing.com - The Investing.com weekly sentiment index published on Sunday revealed that speculators added to their bearish bets on the S&P 500 in the week ending October 9.
According to the report, only 16.7% of investors were long the S&P 500 as of last week, falling from 24.6% a week earlier. A reading below 30% indicates oversold conditions.
In the commodities market, 53.2% of market participants held long positions in gold futures last week, rising from 47.4% in the preceding week.
Meanwhile, just 25.5% of investors held long positions in EUR/USD as of last week, down from 29.6% in the preceding week, while 48.6% of investors were long in GBP/USD, compared to 56.5% a week earlier.
Elsewhere, 48.5% of market participants held long positions in USD/JPY, down from 60.1% in the preceding week, while 59.7% of investors were long USD/CHF, improving from 45.8% in the previous week.
Amongst the commodity-linked currencies, 56.4% were long USD/CAD, declining from 59.4% a week earlier, 33.8% held long positions in AUD/USD, compared to 40.8% in the preceding week, while 35.5% were long NZD/USD, down from 41.0% a week earlier.
A reading between 50%-70% is bullish for the instrument, a reading between 30% and 50% is bearish, a reading above 70% indicates overbought conditions and a reading below 30% indicates oversold conditions.
The Investing.com series of indexes is developed in-house. Each index measures overall exposure to major currency pairs, commodities and indexes, using data from futures exchanges and OTC providers on all long and short open positions.