Very choppy action this week in the markets. Is the selloff at an end? The Commitments of Traders data released Friday suggests it may not be. It's been warning of trouble for the last few weeks, and the latest COT report is no different. Some highlights: - U.S. financials: Woah. Take a look at the data on my latest signals table for the BKX U.S. Bank Index, the benchmark for large U.S. financial players. It's fallen off a cliff. The total open interest for both large speculators and small traders - which correlates moderately with BKX the following week - has been dropping steadily since May 1, just before the beginning of this correction. And Friday's numbers are definitely no exception. As I pointed out in my post last week, we're now well into the longest stretch of declining large spec total open interest since Jan. 2009.