Commitment of Traders Oscillator reaches +106 and over-bought this week.
Commitment of Traders: Professionals -0.7% (short)
The large (SP) contract professionals continued to be marginally short this week. The Commitment of Traders reading was -0.7% (short) of total open interest, down fractionally from last week.
The Commitment of Traders reading and the difference between large (SP) contract professionals and mini (ES) contract professionals (red line on the chart above) have been hovering at the same levels for almost 6 weeks now.
Commitment of Traders: Oscillator +106
The Commitment of Traders Oscillator rose to +106 this week and is now over bought. The Emini has found it difficult to break 1,300 over the last couple of weeks and has lacked sufficient volume to "jump the creek". The Commitment of Traders Oscillator suggests the momentum should switch to the downside.
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.
