Emini-Watch is back after a Christmas break. Haven't updated the Commitment of Traders analysis for a month – so let's see what has happened:
Commitment of Traders: Professionals -15.7% (short)
Professionals have been reducing their Short positions from the peak of -19.3% a month ago to -15.7% of total open interest this week.
The Large contract (e.g. SP) Professionals are still more bearish than the Mini (e.g. ES) contract Professionals with the difference standing at -13.7% (red line above).
Commitment of Traders: Oscillator +44
The Commitment of Traders Oscillator reached a peak of +133 just over a month ago. Since then it has rolled over and this week is reading +44.
I'll post my updated swing trading charts with some comments over the next few days.
US Dollar Index: Commitment of Traders
US Dollar Index: Professionals -9.2% (short) and Oscillator +103
Big change during the last month in the Commitment of Traders report for the US Dollar. The Professionals have gone from +34% Long to -9.2% Short.
The US Dollar Oscillator also crossed the zero line, peaked at +123 in the over-bought region and has now rolled over. This week's reading is +103 (note: last bar on the chart reads +81 but last week's reading was +103).
Remember, the Commitment of Traders data is collected weekly after the close on Tuesday and the Commitment of Traders Report is published after the close on Friday.