"The COT chart above has a one-year duration. Observing the current red bar on the right scale showing 1,156 contracts indicates that commercials have many more long positions than short positions (based on the larger lumber futures contract). Their current market position is the most bullish they have been at any time in the past year. This bullishness coincides with a seasonal low for the past 30 years. "
https://www.barchart.com/story/news/10825537/tracking-the-economy-with-lumber-futures
SEEMS TO ME, THEY'RE BETTING THE REPUBLICANS TAKE BOTH, THE HOUSE & SENATE ~ AND, DO WHAT'S NEEDED TO DEFLATE THIS ECONOMY. I WONDER HOW MANY VETO SIGNATURES WILL COME FROM THE OVAL OFFICE?
AKA ~ JEAN N.
Great charts!
Lumber doing poorly with interest rates going higher.
https://www.barchart.com/story/news/10825537/tracking-the-economy-with-lumber-futures
Seasonals are up for the next 2 months.
Commercials are buying big, large speculators selling big. That's often the way that it does. Specs follow technical trends and some fundamentals, commercials take the opposite position to cover their costs or sell their product in the actual transaction business of the actual commodity.(not just on paper, so they take delivery or have the product to sell)
