Saturday 19 April 2008

Commitment of Traders and Professionals Bullish

Commitment of Traders weekly charts below.

Commitment of Traders Image

Commitment of Traders: Professionals +1.8% (long)

This week the professionals (large SP contract) increased their long positions from 1.4% to 1.8% of total open interest.

Commitment of Traders Oscillator Image

Commitment of Traders: Oscillator +42

The Commitment of Traders Oscillator rose from +38 to +42 this week. Last week I said "if we survive any test of 1,300 and get a bounce this week it will be a very bullish development." I'm sticking with my medium term bullish forecast.

The Commitment of Traders Oscillator is a longer term Emini indicator and designed to highlight broad trends. 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 for a full explanation of this Commitment of Traders analysis.

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