Hi guys,

Same question - has market topped? is still without a definite "yes". Market set a new record of bullishness not long ago so there can be plenty of fuel to reignite the rally. Do not sell this market yet.

Weekly Summary - Speculators

Index of speculators is 94%. Previous reading was 95%.

During the week speculators were selling at low speed. They sold 834 contracts. Last 3 weeks show sporadic selling 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 23%. Previous reading was 20%.

During the week producers were buying at low speed. They bought 2146 contracts. Last 3 weeks show sporadic buying 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 - the pace of bears is weak, the bottom maybe here,
- corn is out of depression, soybeans are still in depression but they may join other ags soon, I think ads passed the bottom,
- gasoline confirmed depression zone and I think there is still enough room for it to go down. Also, crude gave a strong selling signal last week and RB is highly correlated with it.

Happy trading!