My trading setup for crude oil goes bullish on this coming week's open of trading after four weeks in cash. Meanwhile, my signal for the Nikkei goes from bullish to cash on the coming weekly open.
Those signals and other data are now up on my latest signals table, which reports on trader positioning in 10 markets I trade using the weekly Commitments of Traders data from the CFTC.
Overall, the data is looking on balance bullish this week, signalling favourable odds of a market bounce off the recent weakness. The crude signal is bullish overall for the equity market, and three of my four equity signals are bullish.
The Nikkei, which goes to cash this week, isn't highly correlated with North American equities, so its signal this week isn't necessarily a bearish sign either.
But who knows! The data is often wrong, so do your own homework.
Good luck this week, and Happy Father's Day to all you dads and granddads and great-granddads, etc. My wife and daughters took me to Burlington, VT, and then dinner at the amazing Crossing restaurant in Richford (famous for their peanut butter pie and steak). Wow.