Friday, 7 October 2011

Slew of Sells From Latest Trader Data

Woah - a slew of red bearish signals on my newly updated latest signals table. Looks like the bloodbath that is the markets these days. So you thought the correction was over and we're in the clear with this little bounce? Ha. The Commitments of Traders data does not agree with you.

Of course, the traders whose positioning the COT data reflects aren't always right. Nobody is. Here's a snapshot of some of those signals. You'll have to check the signals table for details on the COT positioning for each market.

- S&P 500: still in cash after being stopped out of a bullish signal in August.

- BKX U.S. Bank Index: bearish on next week's open of trading.

- Crude oil: bearish on next week's open.

- Gold: last week's bullish signal still in effect next week.

- Nikkei: in cash like last week.

- Natural gas: last week's bearish signal ends. This setup goes to cash on next week's open.

- 30-year Treasury bond: bullish last week, still bullish next week.

- Copper: in cash next week, going bearish the week after (on the open the week of Oct. 17).

Hope you have a good weekend, and good luck next week. Should be nutty! Happy Thanksgiving to Canadian readers.

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