SPX's COT (Commitments of Traders) Data Jives With The Expected Scenario

SPX's (S & P 500, http://bit.ly/i0nsT) COT (Commitments of Traders) Data Jives With The Expected Scenario (see http://twitteresque.blogspot.com/2010/06/wave-4-down-of-spxs-likely-counter_25.html), see 2/3 of the way down at http://www.cftc.gov/dea/futures/deacmelf.htm. The savvy non contrarian SPX Commercial Traders engaged in massive long liquidation of futures contracts in the five day period ending 6-22-10 (-96,454 long contracts), nailing the large Wave 4 down move this week, and, they're anticipating a large Wave 5 up move the next week or so, because, they engaged in massive short covering of futures contracts in the five day period ending 6-22-10 (-110,340 short contracts), trading net long by +13,886 contracts.