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Investing.com sentiment: bets against S&P 500 reach extreme levels

Published 11/05/2015, 10:48
Updated 11/05/2015, 10:50
© Reuters. Bearish bets against S&P 500 reach extreme levels last week
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Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators increased their bearish bets against the S&P 500 in the week ending May 8.

According to the report, only 19.2% of investors were long the S&P 500 as of last week, compared to 32.7% in the preceding week. A reading below 30% indicates oversold conditions.

Meanwhile, 28.8% of investors held long positions in EUR/USD, little changed from 28.3% in the preceding week.

Elsewhere, 38.8% of investors were long in GBP/USD, up from 31.0% a week earlier, 63.3% of market participants held long positions in USD/JPY, improving from 47.2% in the preceding week, while 50.4% of investors were long USD/CHF, down from 55.7% in the previous week.

Amongst the commodity-linked currencies, 40.1% were long USD/CAD, compared to 42.3% a week earlier, 49.0% held long positions in AUD/USD, up from 42.3% in the preceding week, while 37.7% were long NZD/USD, improving from 27.3% a week earlier.

In the commodities market, 46.8% of market participants held long positions in gold futures as of last week, down from 56.6% in the preceding week.

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.

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