“Smart money” business hedgers are giving the all-clear signal for an equities rally, in response to Friday’s Commitments of Traders report from the U.S. Commodity Futures Trading Commission.
Commercial merchants in S&P 500 futures and choices continued a seven-week build-up of their internet place as a portion of complete open curiosity.
Their positioning has flipped my sign from bearish, which it has been since April 14, to bullish, with a commerce delay of two weeks. That means the sign takes impact the open of buying and selling the week of June 16.
See my latest signals table for extra particulars on dealer positioning in the S&P 500 and the different 9 markets I commerce utilizing the free weekly COT stories.
My sign for the BKX U.S. Bank Index, a benchmark of U.S. financials, additionally goes bullish, however this one with no commerce delay — i.e. taking impact on this week’s open of buying and selling.
As properly, pure fuel goes from money to bearish on this week’s open, whereas crude oil goes bullish.
Good luck this week.
SOURCE: COTs Timer – Read complete story here.