- British pound speculators buy for first time since June
- Record open interest in silver and copper
- COT flashes a strong bottom warning for copper
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The COT Index is the difference between net speculative positioning and net commercial positioning measured. A blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying. A red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Non-commercials tend to be on the wrong side at the turn and commercials the correct side. Use of the index is covered closely in detail in my book.
Latest CFTC Release dated August 30, 2016
| Week (Data for Tuesdays) | |
|---|---|
| US Dollar | 28 |
| Euro | 51 |
| British Pound | 4 |
| Australian Dollar | 90 |
| Japanese Yen | 82 |
| Canadian Dollar | 94 |
| Swiss Franc | 80 |
| Mexican Peso | 71 |
| Gold | 78 |
| Silver | 84 |
| Copper | 51 |
| Crude | 92 |
Charts (all charts are continuous contract)
Non Commercials (speculators) – Red
Commercials – Blue
Small Speculators – Black
COTDiff (COT Index) – Black
US Dollar ICEUS Continuous Contract
Chart prepared by Jamie Saettele, CMT
Euro CME Continuous Contract
Chart prepared by Jamie Saettele, CMT
British Pound CME Continuous Contract
Chart prepared by Jamie Saettele, CMT
Australian DollarCME Continuous Contract
Chart prepared by Jamie Saettele, CMT
Japanese YenCME Continuous Contract
Chart prepared by Jamie Saettele, CMT
Canadian DollarCME Continuous Contract
Chart prepared by Jamie Saettele, CMT
Swiss Franc CME Continuous Contract
Chart prepared by Jamie Saettele, CMT
Mexican Peso CME Continuous Contract
Chart prepared by Jamie Saettele, CMT
Gold COMEX Continuous Contract
Chart prepared by Jamie Saettele, CMT
Silver COMEX Continuous Contract
Chart prepared by Jamie Saettele, CMT
Copper COMEX Continuous Contract
Chart prepared by Jamie Saettele, CMT
Copper COMEX Continuous Contract
Chart prepared by Jamie Saettele, CMT
The plot below price is the 1 week change in aggregated commercial and speculative positions. A high reading indicates strong speculative buying and strong commercial selling and warns of a market top. A low reading indicates strong speculative selling and strong commercial buying and warns of a market bottom. The current reading for this indicator has only been registered once before; in April 2003, which was a major price low. This same method warned of a crude top last week (see here). Crude dropped nearly 7% last week.
Crude Oil NYMEX Continuous Contract
Chart prepared by Jamie Saettele, CMT
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele
Jamie is the author of Sentiment in the Forex Market and co-founder of SB Trade Desk.
