S&P 500 and Copper Bearish - And a Great Big Ho Ho Ho!
I take it back. We got a beautiful bunch of fluffy snow this week to cover everything in a great big layer of snow just in time for Christmas. The wood stove is fired up, and we're as excited as can be for Santa up here in Quebec's Eastern Townships.
If only the news was so good coming out of the grinch-like trader positioning reflected in this afternoon's Commitments of Traders report from the U.S. Commodity Futures Trading Commission. As you'll see from my newly updated latest signals table, derivatives positioning has turned pretty sour pretty much across the board. Setups turning bearish on next week's open of trading: S&P 500 and copper. Crude oil, the Nikkei and natural gas were already bearish. The rest of my setups are in cash. None are bullish at this point.
But try not to think about that too much this holiday weekend! Happy holidays to all.
But try not to think about that too much this holiday weekend! Happy holidays to all.