CAD: The 52 week index is at 6 after being at 0 last week. Before the 2007 low (USDCAD top), Cad lows tended to occur when the composite COT was in the -60,000 range.
This is where composite COT was last week. Also, close to 70% of commercials long tended to singal CAD lows. Last week’s reading was at 68.3%. In other words, look for a CAD low (USDCAD top) soon.
Implications: bottoming
