Tab guide · COT
The COT (Commitment of Traders) tab shows how commercial hedgers and speculative funds are positioned in futures markets, reported weekly by the CFTC. It gives you a window into what large money is actually doing — not what they say in interviews.
Commercial — Hedgers using futures to offset real economic exposure. Heavy commercial short-covering historically marks market bottoms.
Non-Commercial — Large speculative funds making directional bets. Their extreme net longs at market tops are a classic warning sign.
Non-Reportable — Small speculators below the CFTC reporting threshold. Extreme readings can have contrarian value but are less reliable.
Each row shows open long and short positions by trader category. The net position (longs minus shorts) is the key number. Week-over-week changes are often more actionable than absolute levels — a rapid swing from net long to net short after an extended rally has historically been an early warning before corrections.
COT data is reported with a several-day lag (Tuesday data published Friday). Use it as a background sentiment indicator alongside your breadth and leadership reads — not as a precise timing signal.