Commitment of Traders: Professionals -5.9% (short)
Professionals continue to reduce their Short positions. This week’s reading is -5.9% of total open interest, down from -6.4% last week.
The Large contract (e.g. SP) professionals are still more bearish that the Mini (e.g. ES) contract Professionals with the difference standing at -4.2% (red line above).
Commitment of Traders: Oscillator +47
The Commitment of Traders Oscillator dropped this week from +73 to +47.
Commitment of Traders: 2001 to 2003
Looking back at the last bear market, most declines that led to a re-testing of the lows were signaled by a decline in the Commitment of Traders. We haven’t seen a decline in the Professionals’ reading, so there’s still a chance that this rally is not over.
US Dollar Index: Commitment of Traders
US Dollar Index: Professionals +40.7% (long) and Oscillator +27
Professionals increased their Long positions on the US Dollar this week. The net Long position reading stands at +40.7%, up from +34.9% last week.
The Commitment of Traders Oscillator has ticked down and now reads +27.
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.