This week’s Commitment of Traders reading is +2.5%
Professionals are net long and their net long positions make up 2.5% of total open interest in all stock index futures. This is an decrease of 0.3% 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 7 weeks ago.
This week’s Commitment of Traders Oscillator reading is +45
Cyan (light blue) dot = Low turning point; Red dot = High turning point
The oscillator dropped this week from +52 to +45. This is the first sign of weakness in the current rally. We now need price action to confirm a change in trend, so look for breaks of significant support levels during the next week or two.
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.