Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators turned bullish on the S&P 500 in the week ending August 28.
According to the report, 51.5% of investors were long the S&P 500 as of last week, improving from 44.0% a week earlier.
Meanwhile, 58.3% of market participants held long positions in gold futures last week, rising from 49.6% in the preceding week.
A reading between 50%-70% is bullish for the instrument.
Elsewhere, 36.3% of investors held long positions in EUR/USD as of last week, little changed from 35.6% in the preceding week, while 51.1% of investors were long in GBP/USD, compared to 45.2% a week earlier.
The data showed that 47.5% of market participants held long positions in USD/JPY, down from 59.1% in the preceding week, while 53.8% of investors were long USD/CHF, up slightly from 53.5% in the previous week.
Amongst the commodity-linked currencies, 49.5% were long USD/CAD, falling from 52.4% a week earlier, 30.4% held long positions in AUD/USD, compared to 39.7% in the preceding week, while 45.1% were long NZD/USD, improving from 40.7% 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.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI