MARKET SENTIMENT Commitment of Traders Report Bearish Market Bullish Market 1-Increasing Open Interest 1-Increasing Open Interest 2-Non-Commercial Traders NET SHORT 2-Non-Commercial Traders NET LONG 3-Non-Commercial Chart facing down 3-Non-Commercial Chart facing UP 4-Commercial Traders are NET Long 4-Commercial Traders are NET SHORT 5-Commercial chart is facing up 5-Commercial chart is facing down Bullish Market in Net SHORT Bearish Market in Net LONG 1-NCT reached multi-year or extreme Low 1-NCT reached multi-year or extreme high 2-NCT are NET SHORT but they are reducing their Short (- Short Weekly Changes) 2-NCT are NET LONG but they are reducing their long positions (-Long Weekly Changes) 3-NCT Chart is facing up 3-NCT Chart is facing down 4-Commercial Traders reached an extreme high now their chart is facing up (-Long Weekly Positions) 4-Commercial Traders reached an extreme low now their chart is facing up (-Short Weekly Positions) ALWAYS TRADE IN THE DIRECTION OF THE NCT CHART!