This week’s Commitment of Traders reading is +2.6%
Professionals are now net long and their net long positions make up 2.6% of total open interest in all stock index futures. This is an increase of 0.5% 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 5 weeks ago.
This week’s Commitment of Traders Oscillator reading is +39
Cyan (light blue) dot = Low turning point; Red dot = High turning point
The oscillator continues to rise into positive territory as the Emini approaches recent highs. Any reading above zero is strictly speaking in the “look for selling opportunities” zone.
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.