Wednesday, July 31, 2013

Commitment of Traders Stock Index Update July 2013

Commitment of Traders Stock Index Update

This video covers the recent commitment of traders report data relevant to the attempted breakout of the May 2013 highs.  I give you an interpretation of what to look for and a brief discussion of possible short entry strategy and initial profit target.  If prices move to new highs basis the S&P 500, then it may be a continuation and force further short covering as the short positions have built substantially between 1653-1697 on the S&P 500.  Further price increases will pressure those newly established shorts to cover which will provide buying fuel for the rally.  This really is a key level for stocks.

1 comment: