Here are the latest Emini charts from Friday's Commitment of Traders report.
Emini Commitment of Traders: Professionals +3.7%
Professionals are long 3.7% of total open interest in all stock index futures, a decrease of 2.4% from last week. As an Emini upswing gets underway it is normal for the professionals to lighten their long positions, so this decline is not unusual.
Emini Commitment of Traders: Oscillator +59
The Commitment of Traders Oscillator increased from +49 to +59 this week. We're getting closer to the +80 level where Emini reversals are likely, but we're not there yet.
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.