Friday, 20 May 2011
Is it a Top? Trader Data not Happy
Markets sure feel toppy these days - especially now that the "best six months" seasonally favourable period for most major stock indexes is now over. This afternoon's Commitments of Traders report suggests the weakness could continue. My trading setup for the S&P 500 remains bearish, and trader positioning isn't giving any hopeful signs for bulls. See my newly updated latest signals table for details based on today's COT release. Have a good weekend, and to Canadian readers - a good long weekend. TGIF! Good luck next week.