Commitment of Traders latest charts
Commitment of Traders: Professionals +5.4% (long)
There was a jump in the Professionals' (large SP contract) positions this week. They increased their long positions from 2.7% to 5.4% of total open interest. They were buying as the market continued to slide from Monday to Wednesday last week.
The Large vs Mini contract difference (red line) has also increased this week. So the large contract professionals (the "true" professionals) are more bullish than the mini contract professionals (Emini) – although the line is not rising steeply yet.
Commitment of Traders: Oscillator -123
The Commitment of Traders Oscillator declined from -90 to -123 this week and we're now in the buy zone.
I'm still looking for some weakness during the early part of this week and an "end of trend" signal on the Hilbert Sine Wave. In addition:
- Second half of June is not typically strong
- Swing trading oscillators are not in over-sold territory, and
- Bond market continues to be weak
However, the professionals appear to be accumulating at these levels and so the down side might be limited.
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.