This week’s Commitment of Traders reading is +4.1%
Professionals are net long and their net long positions make up 4.1% of total open interest in all stock index futures. This is an increase of 0.1% from last week. Professionals continue to add to their long positions and the COT reading has remained positive for the last 15 weeks.
On the chart below: Light blue dot = Low turning point; Red dot = High turning point.
This week’s Commitment of Traders Oscillator reading is -49
The COT Oscillator declined marginally this week from -47 to -49. With the Oscillator below zero we’re looking for the next long entry signal.
Of interest this week was the divergence between Large (SP) index futures and Emini (ES) type index futures. I calculate the COT reading in aggregate but also for the Large versus Emini types. This week the Professionals trading Large index futures became more bullish than Emini Professionals.
This situation has in the past signaled low turning points. Let’s see how it works out this time.
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.