Saturday 24 May 2008

Commitment of Traders Oscillator has now Peaked

Commitment of Traders weekend update.

Emini Commitment of Traders Image

Commitment of Traders: Professionals +1.5% (long)

The professionals (large SP contract) have increased their long positions from 1.2% to 1.5% of total open interest.

Emini Commitment of Traders Oscillator Image

Commitment of Traders: Oscillator +104

The Commitment of Traders Oscillator peaked last week and has now turned down. This week's reading is +104.

The Professionals are still long, so I'm wondering if the Oscillator will drop all the way into over-sold territory (-100) or just dip below the zero line. We'll have to wait and see.

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.