Saturday 30 August 2008

Commitment of Traders Oscillator +105

Commitment of Traders Oscillator still over-bought at +105 this week.

Emini Commitment of Traders Image

Commitment of Traders: Professionals -0.3% (short)

Very little new insight from this week's Commitment of Traders Report. Large (SP) contract professionals continued to be marginally short this week at -0.3% of total open interest, up fractionally from last week.

Large (SP) contract professionals and mini (ES) contract professionals are closely aligned with the percentage difference between them only -0.2% (red line above).

Emini Commitment of Traders Oscillator Image

Commitment of Traders: Oscillator +105

The Commitment of Traders Oscillator ticked over this week from +106 to +105 and is still over-bought.

This week's Emini trading resulted in an inside weekly bar and doji candlestick pattern, indicating indecision. We have support at 1,260 and resistance at 1,300 - so look for any breaks of these levels next week.

Despite the over-bought COT Oscillator I'm still medium-term bullish:

Low volume down bar on weekly Emini chart
Cyclical Hilbert Sine Wave lows on daily and weekly Emini charts
Bonds in an uptrend from 20 days ago
US Dollar in an uptrend again Japanese Yen

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 a full explanation of this Commitment of Traders analysis.

Emini trading articles filed under Commitment of Traders :