Investing.com - The Investing.com weekly sentiment index published on Monday revealed that market players turned bearish on the S&P 500 in the week ending August 15.
According to the report, 33.3% of market participants held long positions in the S&P 500 last week, down from 52.3% in the previous week. A reading between 30% and 50% is bearish for the instrument.
Meanwhile, 38.9% held long positions in EUR/USD, up from 34.0% in the preceding week, while 62.6% of investors were long in GBP/USD, compared to 47.5% a week earlier.
Elsewhere, 61.1% of market participants held long positions in USD/JPY last week, down from 76.9% a week earlier, while 54.8% of investors were long USD/CHF, compared to 54.5% in the preceding week.
Amongst the commodity-linked currencies, 41.4% were long USD/CAD, up from 35.3% a week earlier, 56.8% held long positions in AUD/USD, compared to 59.7% in the preceding week, while 65.7% were long NZD/USD, up from 65.6% a week earlier.
In the commodities market, 71.0% of market players held long positions in gold last week, compared to 63.0% a week earlier. A reading above 70% indicates overbought 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.
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.