Current Sentiment Readings
Posted by tktrader on August 20, 2009
Commodity Futures Trading Commission (CFTC) publishes Commitments of Traders (COT) reports weekly which tracks sentiment in the futures market for short and intermediate term price patterns. These are their stories.
Commercials – risk transference to reduce exposure to spot market price changes, primarily price hedgers and risk managers
Non-Commercials – institutions and major investors provide majority of liquidity through outright speculation and risk management for other market positions
Source: http://www.market-harmonics.com/
BB Ratio = 2.09
Pct.Bulls = 48.3
Pct.Bears = 23.1
* Readings over 2.0 (2x bulls vs. bears) is the wall level. Sudden reversals and/or consolidation would be healthy at these levels. Through these numbers, traders are very optimistic.
