This week’s Commitment of Traders reading is -7.9%
Here are the latest Commitment of Traders charts for Emini traders.
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.
This week’s Commitment of Traders Oscillator reading is +41
Cyan (light blue) dot = Low turning point; Red dot = High turning point
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, 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.