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.
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