Hi guys,

Has market topped? A bit early to say - there is only 1 indicator in that favor - speculators were net sellers during that week. The index is at the verge of bullish euphoria zone, so market is still in BUY mode. Market set a new record of bullishness not long ago so there can be plenty of fuel to reignite the rally. Long story short - do not sell this market yet.

Weekly Summary - Speculators

Index of speculators is 95%. Previous reading was 100%.

During the week speculators were selling at low speed. They sold 5829 contracts. Last 3 weeks show sporadic buying pattern.

Speculators index sits not far from extreme levels. During last weeks index moved away from extreme values. Current market balance indicates limited bullish potential (and good potential for bears), however this indicator alone is not enough to make good decisions.

Weekly Summary - Producers

Index of producers is 20%. Previous reading was 16%.

During the week producers were buying at low speed. They bought 3212 contracts. Last 3 weeks show sporadic selling pattern.

Producers index sits in the lower quartile. During last weeks index moved away from extreme values. Current market balance indicates limited bullish potential (and good potential for bears), however this indicator alone is not enough to make good decisions.

Further analysis is on my site https://www.valknut-analytical.com

Speaking of other markets zones of depression and euphoria:
- gold is in euphoria zone,
- cotton - read the analysis on my site, this may be the moment of truth,
- corn, soybeans are in depression and signals are mixed,
- sugar left depression zone and I guess this move is not a false dawn,
- gasoline confirmed depression zone and I think there is enough room for it to go down.

Happy trading!