Instruments that show buying interest from Dealer/Intermediary (sell-side participants)
- Dow (increased for 2nd week)
- Nasdaq (increased for 2nd week)
- S&P (increased for 2nd week)
- Russell (increased for 3rd week)
(1) COT Index > 90
Down Trend and Up Trend is based on 50 Simple Moving Average
Nasdaq and S&P managed to break pwh but only Nasdaq managed to close above pwh. Dow and Russell closed with a inside day, direction still unclear.
Based on CMC, Russell (US Small Cap 2000) is moving in ranges or consolidating between 1082 and 1213 for 10 months (Since early Mar 2014), possible of explosive movement coming if manage to break and closed above 1213 for 2 to 3 weeks. If markets sentiment is good and manage to break 2 weeks high, I will enter small trade using break LHF on weekly chart.