Note: The Commitment of Traders data is still not updating after a ransomware attack in January.
DeMark Indicators and Commitment of Traders basics at the bottom of this note
Highlights and themes
The US Dollar reemergence is the big theme that started a week ago. Dollar bullish sentiment is increasing and still has work to prove if this move has legs. Crypto is under pressure again with the risk the SEC bans or restrict the ‘staking’ of coins.
Currency Sentiment Overview
Currency sentiment highlights show the US dollar’s reemergence as sentiment bottomed recently at 15% and is now at 40%. A move over 50% the mid point majority line is now what I am watching close. Bitcoin sentiment is reversing and is testing the 50% level.
US Dollar Indexes
DXY US Dollar Index daily finally bounced after the recent DeMark Combo buy Countdown 13 and Sequential buy Countdown 13’s
Bloomberg US Dollar Index daily similar pattern
US Dollar bullish sentiment reemerging higher and still has some work to prove this move has legs.
US Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
Bitcoin and Ethereum
Bitcoin Daily reversed after the risk of staking coins for ‘rewards’ or yield.
Ethereum Daily topped too after the recent DeMark Sequential sell Countdown 13
Major USD Crosses
EURUSD Euro / US Dollar has risk lower to the downside DeMark Propulsion target of 1.04
Euro bullish sentiment reversal after moving to the extreme zone >80%
Euro Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
GBPUSD British Pound Sterling / US Dollar also has risk lower
British Pound Sterling bullish sentiment still holding the 50% level
British Pound Sterling Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
AUDUSD Australian Dollar / US Dollar
Australian Dollar bullish sentiment also reversed.
Australian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDCAD US Dollar / Canadian Dollar.
Canadian Dollar bullish sentiment
Canadian Dollar Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDCHF US Dollar / Swiss Franc trying to turn
Swiss Franc bullish sentiment under pressure
Swiss Franc Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
RISK On Risk Off
This cross is often used as a risk-on / risk-off indicator
EURAUD Euro / Australian Dollar
Three major Yen crosses – lower highs vs YEN
EURJPY Euro / Japanese Yen
GBPJPY British Pound Sterling / Japanese Yen
AUDJPY Australian Dollar / Japanese Yen
US Dollar vs Emerging Markets
USDTRY US Dollar / Turkish Lira
USDBRL US Dollar / Brazilian Real
USDMXN US Dollar / Mexican Peso
Mexican Peso bullish sentiment
Mexican Peso Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators
USDZAR US Dollar / South African Rand
USDCNH US Dollar / Chinese Offshore Renminbi (Yuan) – A weak Yuan ahead
DeMark Sequential Basics from Bloomberg
More detailed Commitment of Traders explanation
