Saturday 10 March 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 -1.6%

Professional net short positions now make up 1.6% of total open interest in all stock index futures. This is a drop of 4.8% from last week, as professionals bought back short positions after last week's fall. Historically, this is a very bullish level for commitment of traders data but check out the oscillator below for timing market entry.

Note: Commitment of Traders data is collected after the close on Tuesday each week and then published after the close on Friday. So this reading now includes last Friday's selling.

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 -48

The oscillator is now below zero and in the "look for buying opportunities" zone. However, the oscillator was below last week's reading and has not turned up yet. There might still be some weakness in the Emini this coming week and a test of the 1,383 low.

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.

Emini trading articles filed under Commitment of Traders :