This week's Commitment of Traders reading is +6.3%
The COT Report was delayed this week because of the July 4 holiday. Professionals are net long and their net long positions make up 6.3% of total open interest in all stock index futures. This is a big increase of 1.8% from last week.
This level of bullishness by Professionals suggests that any downturn in the market will be shallow and short lived. But take care relying on any one single market measure – use multiple non-correlated indicators to make trading decisions.
Note: Commitment of Traders data is collected after the close on Tuesday each week and then published after the close on Friday. On the chart below: Light blue dot = Low turning point; Red dot = High turning point.
This week's Commitment of Traders Oscillator reading is -56
The COT Oscillator declined marginally this week from -54 to -56. With the Oscillator below zero we have been looking for the next long entry signal. Last week's action was very positive but the Emini is currently over-bought and touching a resistance trend line. Let's see if bullish volume returns to the market this week to push through this resistance.
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.