2-year weekly history · Speculator, commercial, and small trader positioning
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Flow SignalBULLISH
Commercials accumulating Bloomberg Commodity Index while speculators exit — smart money positioning bullish.
Spec:
-17,100
(-417)
·
Comm:
16,699
3Y Percentile21%
Latest Week
Speculator Net
-17,100
Commercial Net
16,699
Small Trader Net
401
Long/Short Ratio
0.88
Open Interest
203,577
Total Traders
77
How to Read COT Data
Speculators (Non-Commercial)
Hedge funds, CTAs, and momentum traders. They follow trends and amplify moves. When their positioning reaches extremes, it often signals the trend is crowded and vulnerable to reversal.
Commercials (Hedgers)
Producers, refiners, and consumers who use futures to hedge their business. They tend to be contrarian — selling into rallies and buying dips. At extremes, they're historically on the right side.
The Percentile Bar
Shows where current speculator positioning ranks vs. the past 3 years. Above 80% = historically bullish, below 20% = historically bearish. Extremes (top/bottom 10%) are the highest-signal readings.
What To Watch For
The best signals come from extreme positioning + divergence: when speculators are max long but commercials are max short, it often precedes a reversal. The weekly change shows who's adding or liquidating.
Source: U.S. Commodity Futures Trading Commission (CFTC) Commitments of Traders reports. Data is published weekly with a 3-day lag.
