This week’s Commitment of Traders reading is +1.8%
Professionals are net long and their net long positions make up 1.8% of total open interest in all stock index futures. This is an increase of 0.8% 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 10 weeks ago.
This week’s Commitment of Traders Oscillator reading is +62
Cyan (light blue) dot = Low turning point; Red dot = High turning point
The oscillator declined this week from +70 to +62. A second oscillator turn and we’re still looking for price action and breaks of significant support levels to confirm a change in trend.
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.