The latest Commitment of Traders report shows that Professionals are unwinding some of their long positions but are still bullish.
Latest Commitment of Traders Report
The chart above shows the Professionals are net long and their long positions account for 6.2% of total open interest in all stock index futures. This is down 0.5% from last week and down 4.6% from the peak reading just over a month ago.
Latest Commitment of Traders Oscillator Reading
The chart above shows the latest Commitment of Traders Oscillator reading is +88, up from +86 last week. We're now in overbought territory and looking for market weakness to signal the next leg 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.
