Global Futures Odd-Lot/Specialist Short Sales Ratio
This index is calculated by dividing the weekly odd-lot short sales by the weekly specialists short sales for better comparison. A 4-week moving average is applied to smooth out the swings. Unlike the well informed specialists, the odd-lotters are usually wrong about the direction of the market and this indicator is therefore considered to be a contrary opinion sentiment indicator. High readings indicate heavy shorting by odd-lot investors and therefore bottoms, extremely low readings tops.
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