Commitment of Traders: Professionals -7.3% (short)
Professionals continue to reduce their Short positions to -7.3% of total open interest this week. As a result of my analysis of ES versus SP Commitment of Traders data, I’ll be dropping any comments to do with the difference between ES and SP Professionals (red line above).
Commitment of Traders: Oscillator -152
The Commitment of Traders Oscillator is at -152 and over-sold. Since we broke below the zero line this week, the peak in the last swing at 1,147 has now been marked with a red dot. We’re yet to see a slowing in last week’s decline and bullish divergence or Professional accumulation patterns, so this week’s trade might get bumpy.
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.