COT: Commitment Of Traders Report: Follow The Smart Money??

The COT Report:
The latest Commitments of Traders report from the CFTC shows that Commercial Hedgers bought 5,651 S&P 500 futures contracts last week to bring their net long position to 3,657 contracts. Large traders were net long 23,860 contracts, with Small Traders net short the remaining -27,517, the so-called "weak hands". For the Nasdaq 100 futures, Commercials sold 494 contracts last week to bring their net long position to 3,333 contracts. Small Traders were net short -271 contracts in the Nasdaq. Commercial action in Dow futures saw the smart money sell 200 contracts to bring their net long position to 3,576 contracts.
Commercial Hedgers were better buyers in the S&P's last week, while Small Traders were better sellers a short term bullish sign. Commercials remain net long in all three index futures, and that has been an intermediate term bullish sign historically.