Commitment of Traders latest charts
Commitment of Traders: Professionals +4.9% (long)
Small drop in the professionals’ long positions from 5.4% to 4.9% of total open interest. Remember this is measuring the Large SP contract professionals.
The difference between the Large and Mini contract professionals has also widened. The red line in the chart above is rising, which indicates that the Large contract professionals (the "true" professionals) are becoming more bullish than the Mini contract professionals.
Commitment of Traders: Oscillator -122
The Commitment of Traders Oscillator has leveled off and is almost unchanged from last week at -122. This is in the buy zone and so I’m looking for signs of strength.
Friday’s large drop took me by surprise and I’m sure I sound like a broken record with my "medium term bullish" view. However, I still believe we’re building a bottom with Professionals accumulating on large volume down days (like Friday) and possible market crash media stories designed to scare the general public into selling.
The swing trading risks might be high right now but the day trading opportunities are great, with large intraday ranges and tradable swings.
Good luck with your Emini trading.
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.