Commitment of Traders turns bullish. See the latest charts below. Apologies for the delay – upgrading the website was my priority this weekend.
Commitment of Traders: Professionals +2.3% (long)
The professionals (large SP contract) are now net long. Their long positions account for 2.3% of open interest, up from -1.3% last week. This is a positive development and fits in with my longer term cycle analysis.
Commitment of Traders: Oscillator -94
The Commitment of Traders Oscillator has turned down from -49 to -94. We are now over-sold and in the "look to go long" zone. I'm looking for signs of strength, such as a break above last week's high (1,362).
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.