Saturday 15 November 2008

Commitment of Traders Oscillator Turns Up

Commitment of Traders Oscillator has turned up from over-sold levels this week.

Emini Commitment of Traders Image

Commitment of Traders: Professionals -5.1% (short)

The Professionals are still Short with their positions accounting for -5.1% of total open interest. Not much of a change over the last 2 months, however, there is a growing difference between SP (large contract) and ES (mini contract) Professional traders.

The red line in the chart above shows the difference between SP and ES Professional traders. A rising red line indicates SP Professionals are more bullish that ES Professionals. Back testing has shown that SP Professionals are a more reliable indicator of market direction.

Emini Commitment of Traders Oscillator Image

Commitment of Traders: Oscillator -92

The Commitment of Traders Oscillator rose this week from over-sold levels to -92. We have a possible triple bottom on the Emini and "End of Trend" signal on the Hilbert Sine Wave. I'm quietly bullish about the next few weeks, but focusing on the day-to-day rather than swing trading.

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. Follow this link to a feature article with videos and a full explanation of Commitment of Traders analysis.

Emini trading articles filed under Commitment of Traders :