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SP futures Open Interest breakdowns
Mon Dec1 8am (NY) - by Anatoly Veltman - Chief Global Analyst - As SP begins its advance off of the decade lows, we find a telling indicator in daily Open Interest breakdown. We just completed 5 straight up-sessions, beginning with 11/21 Fri bounce from 739 low: O.I. in bigSP and E-mini were little changed. On 11/24 powerful up-day: O.I. in bigSP was up big, E-mini's down. 11/25 up-tick: bigSP O.I. up, E-mini down. 11/26 big up-day: but bigSP O.I. slightly down, E-mini's down. 11/28 up-tick: bigSP O.I. down, E-mini's up. So, the observation of this 5-day bounce showed that bigSP players correctly went Long early-on and then basically aborted up-higher; while E-mini players did the opposite! . . . (to read the remainder of this article, please log in below.)
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