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USD/JPY, VIX, S&P 500, WTI, gold: Commitment of traders report (COT)
The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange. Net-short exposure to the VIX (volatility index) has fallen to its least bearish level in several years. Yet as we highlight below, the fact the traders are predominantly net-short VIX futures most of the time then that can be seen as a bullish data set for VIX and volatility in general. It also means I’m keeping a very close eye on the S&P 500 as it decide which way it wants to travel from a key trendline on the weekly chart. Asset managers has reduced longs and increased shorts for the past ... (full story)