Saturday 17 February 2007

Commitment of Traders

Here are the latest Commitment of Traders charts for Emini traders:

Emini Commitment of Traders Image

This week's Commitment of Traders reading is -7.9%

Professional net short positions now make up 7.9% of total open interest in all stock index futures. Professionals are continuing to offload short positions from the peak reached 4 weeks ago.

Emini Commitment of Traders Oscillator Image            Cyan (light blue) dot = Low turning point; Red dot = High turning point

This week's Commitment of Traders Oscillator reading is +41

The oscillator has now turned down and so expect weakness in the Emini market. There also appears to be increasing divergence with the oscillator making lower highs while the market makes higher highs. The oscillator peak reading on 27 October was +89, on 29 December it was +44 and then on 9 February it was +43 (red down arrows on chart).

Look at previous turns on the chart to get a feel for how quickly the market follows the oscillator. Remember this is a longer term market indicator and designed to highlight broad Emini up and down trends.

Click here for a full explanation of this Commitment of Traders analysis.

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