Saturday 28 April 2007

Emini Weekly Update: 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 +2.5%

Professionals are net long and their net long positions make up 2.5% of total open interest in all stock index futures. This is an decrease of 0.3% from last week. The Commitment of Traders data has been shown to be extremely accurate in judging the strength of this last rally with the reading turning positive 7 weeks ago.

Note: Commitment of Traders data is collected after the close on Tuesday each week and then published after the close on Friday.

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 +45

The oscillator dropped this week from +52 to +45. This is the first sign of weakness in the current rally. We now need price action to confirm a change in trend, so look for breaks of significant support levels during the next week or two.

Remember, this is a longer term Emini indicator and designed to highlight broad trends. Click here for a full explanation of this Commitment of Traders analysis.

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