On the weekly chart we see in the Legacy Cot the Commercials dropped net longs to 116,441 contracts. On the more transparent Traders in Financial Futures we see Dealer Intermediary continue dropping net longs to 74,539 contracts, Lev Funds dropping net shorts to -63,574 contracts, and Asset Managers have for some time been dropping net longs, now at 7,903. These are all bull moves in a bearish posture. If this continues week after week, even with BOJ’s actions, the yen will rise.
If you need help understanding how to understand how to use the NEW COT report to your benefit get instant access to my new e-book "What Lies Beneath ALL Trends". It is filled with eye opening information.Commercial Net Tracker instructions: This form tracks the Commitment of Traders (COT) data for the commodity futures market. This form "looks" at the most recent five weeks of COT data and provides visual indications of the data. A) If the current value is at a 12-month low, the cell will display a red/burgundy background. B) If the current value is at a 12-month high, the cell will display a green background. C) If the current value went from net negative to net positive, the cell will display a blue background (indicating a bullish condition). D) If the current value is both a 12-month high and also went from a net negative to a net positive, the background will be green. You should view the data with green backgrounds to determine if they also went from net negative to net positive.
Proceed to Page 3 for this week's detailed fundementals...