The Commitment of Traders reading has now reached -17.8%.
Commitment of Traders: Professionals -17.8% (short)
Professionals continued to add to their Short positions last week. The Commitment of Traders is now reading -17.8% of total open interest, down from -16.2% last week.
The Large contract (e.g. SP) Professionals are still more bearish that the Mini (e.g. ES) contract Professionals with the difference standing at -21.3% (red line above).
Commitment of Traders: Oscillator +133
The Commitment of Traders Oscillator ticked up a fraction this week from +129 to +133. Overbought and looking like it might make a bearish divergence pattern with lower high point.
Trend Line Congestion (Emini daily)
We've now had 6 days within a tight Congestion range on the Emini. We're likely to see larger volatility coming soon. My bias is to the downside (Commitment of Traders, monthly cycles on US Dollar, Profit Taking and No Demand patterns), however, we could see one more upside break with exhaustion volume.
US Dollar Index: Commitment of Traders
US Dollar Index: Professionals +34.3% (long) and Oscillator -41
Professionals continue to maintain their Long positions on the US Dollar this week. The net Long position reading is +34.3% of total open interest. The US Dollar Commitment of Traders Oscillator is now at -41.
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.