This week’s Commitment of Traders reading is +3.7%
Professionals are net long and their net long positions make up 3.7% of total open interest in all stock index futures. This is a further increase of 0.7% from last week. The Commitment of Traders data has been shown to be extremely accurate in judging the strength of this last rally with the reading turning positive 12 weeks ago.
This week’s Commitment of Traders Oscillator reading is +15
Cyan (light blue) dot = Low turning point; Red dot = High turning point
The oscillator declined again this week from +37 to +15. New highs this week and again no break of the previous week’s low. Short term we’re close to a cyclical high turning point but professionals have been adding further to long positions (+3.7% reading) and the uptrend appears to still be intact despite the oscillator pointing down.
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.