E-Mini S&P Large Speculators Net Short, ES Breaks Down During Goldman Hearing, VXX Spikes (Videos of Chartcast, COT Chart, SPY)

I remember a week ago Zero Hedge wrote about the E-mini S&P commitment of traders (COT) report for April 20.  Every week the CFTC (Commodity Futures Trading Commission) reports net holdings of large speculators, commercials and small speculators in the futures market.  The next one should be coming out soon.  For free commitment of traders charts visit cotpricecharts.com.  Remember this is backward looking data.

March 3 marked the peak in net speculative long exposure.  Large speculators started to unwind long positions, or boost short exposure, while the future kept making new highs.  This divergence was interesting, especially since the ratio went negative on 3/23/2010 and closed out 1.2 million contracts.  Large speculators haven't been net short in over a year.   What's up...  It's also interesting how short small speculators were back in December. Today saw a huge down day which I'll explain below.  Is this peak different than the others?

ES, CME - E-Mini S&P Index, Net Commitments of Futures Traders

Today was a volatile day during the Goldman Sachs hearing/Greek bond massacre, SPY closed down 2.34% but VXX (Volatility Index ETF) spiked 9.85%!  I threw up a Screenr video chartcast showing SPY breaking down into the close and shot the June E-mini S&P future after the close.  In the background you can hear Goldman's CFO answering questions at the hearing for your entertainment. Today kind of felt like late 2008 with the massive regulatory/banking confusion.

SPY and ES both broke an ascending channel and $114.67 looks like support for SPY if it can't hold the 50 day moving average.  The main level of support for the E-mini S&P future (ESM10) is 1142.5, however, there's a also a minor shelf at 1,174 (see 2nd video).  In also flipped through the charts of June Oil (CLM10) and the US Dollar Index (DXM10) future.

Distressed Volatility Chartcast #1: Watch $SPY (S&P ETF) breakdown into the close, before rallying.




Distressed Volatility ChartCast #2: S&P E-mini, Oil and US Dollar Index. DVtv ChartCasts are sponsored by Distressed Volatility Research.


Comments

  1. Why countries don't start to unite, at least virtually? then they could solve volatility better. expand to mars they must because neighbourghs don't allow them linear expansion in terms of geography and trade.

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  2. It is some vacuum or gap or inert void space between civilization's achieved limits and providence of god, that is me untill any comes to replace myself. Such situation is unsustainable on long term. Natural production of oxigen and nitrogen is not calculated in GDPs and Budgets, peoples have not material individual sovereignty, rich give to poor and betting on their deaths.

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  3. So, to say, world virtual currency is, let's say "virks", it represent any of other world specific separate currency as intermediary towards god's "zix" as new reserve world's currency. Appearing god Zikalkis is introducing his Zix valuing it 100 virks. Consequently, 1Z = 100$ = 100€ = 100R etc.. Next day, according to changes in considered economy, all currencies will vary around 100 constant virks. My godguided establishment shall issue individual sovereignty card with value of 1 zirks (zix) which is value of 100 virks, to each and every one of civilizes born in world, regardless that, maybe course of dollar or euro are 89 or 112 for 1 zirks, respectively. It shall be one median yearly salary of 10 000 cents, because, meanwhile, all currencies have been apppreciated 100 times. Better to understand: "value of one cent has become the value of one dollar" and/or a daughnut, and/or 0.1 of troy ounze of gold etc.. It means, that all currencies are measuring their values relating to the constant valued (100 virks) zirks. Not more to let the world's civilization on mercy of curtesy of China versus USA related currency and market manipulations. They are strong but not necessarily good and prosperous. Moreover they are mastodonts limited in growth. China can rise 11% but at growth of 12% accelerating and overheating and fall of the bicycle, while Zikalkis put one leg on the seat of the bicycle and other leg in the air and steer the bike at 500% growth, in first year. Next year is entering into "The new normalcy of the normality" and stabilize the calm waters of oceans of the civilization in the universe.

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