COT Report shows the professionals are still bullish. See the latest charts below.
COT Report: Professionals +1.9% (long)
The professionals (large SP contract) are still net long. Their long positions account for 1.9% of open interest, down a fraction from +2.3% last week.
COT Report: Oscillator +35
The COT Oscillator has crossed the zero line and finished the week at +35, up from -94 last week. This now confirms the low of the last cycle at 1,258 (blue cyan dot).
We got the break above the previous week's high that I was looking for as a sign of strength. This appears to confirm my longer term bullish outlook. However, that doesn't mean that we can't have smaller counter-trend moves, as suggested in Friday's article on the TRIN indicator.
Better Volume Indicator
I've updated my article on the Better Volume Indicator. The last version wasn't focussed and so this time I've tried to keep it to Emini day trading. There are 2 new videos, TradeStation Easylanguage code and the article is available in PDF format, so you can download it to read later. Check out the Better Volume Indicator article here.
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.