On May 30, 2023, weekly Engrbytrade™ calculations indicated E-Mini S&P 500 futures trader positions were in an extreme position similar to where they were on September 11, 2007. This has been monitored closely over the last month to see if a structure developed that is similar to what appeared during the last quarter of 2007. The charts below provide a comparison between 2023 and 2007. Additional data will be needed to see if Market Makers and futures traders follow through with another 2007 structure.
Stock chart courtesy of StockCharts.com.
