Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators added to their bearish bets on the S&P 500 in the week ending July 17.
According to the report, 26.0% of investors were long the S&P 500 as of last week, down from 31.1% a week earlier. A reading below 30% indicates oversold conditions.
Meanwhile, 30.7% of investors held long positions in EUR/USD as of last week, compared to 27.9% in the preceding week. A reading between 30% and 50% is bearish for the instrument.
Elsewhere, 41.4% of investors were long in GBP/USD, up from 34.7% a week earlier, 50.1% of market participants held long positions in USD/JPY, down from 54.1% in the preceding week, while 48.0% of investors were long USD/CHF, compared to 51.7% in the previous week.
Amongst the commodity-linked currencies, 48.3% were long USD/CAD, improving from 45.3% a week earlier, 38.4% held long positions in AUD/USD, down from 43.2% in the preceding week, while 43.0% were long NZD/USD, up from 41.8% a week earlier.
In the commodities market, 57.0% of market participants held long positions in gold futures as of last week, improving from 55.7% 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.