Investing.com - The Investing.com weekly sentiment index published on Monday revealed that market players turned bullish on the S&P 500 in the week ending October 3.
According to the report, 50.3% of market participants held long positions in the S&P 500 last week, up from just 29.5% in the previous week. A reading between 50%-70% is bullish for the instrument.
In the commodities market, 66.5% of investors were bullish on gold, compared to 63.0% a week earlier.
Meanwhile, 44.5% held long positions in EUR/USD last week, up from 41.3% in the preceding week, while 55.9% of investors were long in GBP/USD, compared to 54.3% a week earlier.
Elsewhere, 62.2% of market participants held long positions in USD/JPY last week, down slightly from 63.9% a week earlier, while 50.4% of investors were long USD/CHF, little changed from 50.5% in the preceding week.
Amongst the commodity-linked currencies, 51.1% were long USD/CAD, up from 49.4% a week earlier, 52.9% held long positions in AUD/USD, compared to 52.6% in the preceding week, while 57.1% were long NZD/USD, down from 60.4% a week earlier.
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.
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.