Right now, we are trying to identify new levels to trade. The COT Report tells us that both Commercials and Small Specs remained relatively unchanged on the DJIA and SPX futures. Small Specs have the opposite position. It good to see that they're not always right. Enjoy the Memorial Day weekend and watch those levels next week.
Small specs are the general trading public with commercials being financial institutions.
Commercials are historically on the correct side of future trend changes while small specs are not. Extreme divergence between each signals a possible market turn in favor of the commercial trader's direction.