Friday, 10 September 2010
Bank Signal Bullish Next Week... But S&P 500 Smart Money Gets Bearish
Some new signals and interesting data coming out of today's Commitments of Traders report from the CFTC. Check my latest signals table for the details. Some highlights:
- S&P 500: The "smart money" commercial hedgers have followed the wrong-way small traders in giving a bearish signal for my S&P 500 setup. That signal is to take effect on the open the week of Oct. 4.
- BKX U.S. Bank Index: The data for BKX, based on the three-month Eurodollar contract, has flipped to bullish for next week. (The trade is to go into effect on Monday's open.) But it's a short-term trade only, lasting just a single week, as the small trader total open interest went bearish last week. Their signal will kick in with a two-week trade delay the week of Sept. 20. This means my setup will go to cash or bearish that week.
- Nikkei: My setup goes bearish on Monday's open (Sept. 13).
- 30-year Treasury bond: My setup, which was bearish for two weeks, goes to cash on Monday's open. It will then go back to bearish on the open the week of Sept. 27.
- Crude oil: My setup went bearish Aug. 30 and will remain so until Oct. 4, when it goes to cash.
- Gold: My setup went bullish Aug. 30.
- Natural gas: The setup went bullish on Aug. 23 and remains so for at least one more week.
Hope you survived the last week and have a great weekend. Check back in early next week for an update to my portfolio page.