Usually Dollar Index strength = SP500 weakness Currently they are both heading higher. Either the inverse relationship is breaking down or one of them will soon reverse.
SPY tests Support
SPY close to Support
SPY approaching Support
Dollar Index and S&P 500
SP500 Pulse 9th April
SP500 Pulse 4th April
Commitments of Traders Data released 1st May 2009
Commitments of Traders data released today shows: SP500 Commercials slightly increased their Net Short position from -81,388 contracts to -83,921 contracts. Their Sentiment Index fell from 25.1% to 24.2% That means that as of last Tuesday they became a little more bearish than the previous week. The Smart Money is still fading this rally.
SP500 Commitments of Traders Data 27th February 2009
SP500 hit a new low today but.. Small Traders net position shows they are still extremely bullish. As I noted after the November low – it would be extremely rare to see an important market bottom put in with the Small Traders so bullish.. and here we are again.
SP500 Commitments of Traders Data 13th February 2009
COT data released today shows that the SP500 Commercials have reduced their net short position but Small Traders are still very bullish. This still looks like a bearish set of data.