Commercial Net Positioning for Nasdaq Futures hit a very bullish 93% score this week, on a 18 month relative basis. Given a 18m score of 92% or better, price distribution favors bulls - With a 20 day forward 70th Percentile advance of 80.75 points, versus declines of only … [Read more...]

  Over the past 4 weeks as Crude has cratered to $55, Commerical traders added 117.6k Futures Contracts while Funds sold 112k  - This activity scores 99% for Commercials on a 18month Relative basis,  and a very bearish 4% for funds. Historically, price dispersion given … [Read more...]

The Greenback has been on a tear since the April 17 low, rallying over 9%  and creating a negative headwind across the commodity complex.  While we were anticipating a top in mid July @ the 95 level, prices broke out above that major resistance level, driven by EM currency … [Read more...]

Coffee Producers and Commercials have been extremely long throughout most of 2018.  What historically has been a reliable indicator to position long with 70 percentile moves 20 days forward of 5:2 in bulls favor, has seen the complete opposite this year with prices posting odds … [Read more...]

As Precious Metals continued to sink last week we saw expected further Fund shorting and Commercial buying. On a 18month Relative Basis Comms now score 100% and Funds are max bearish at 0%. The 5yr score is 99% for Comms and 0% for Funds - so we are at true extremes in … [Read more...]