The latest Commitments of Traders report was released, covering positions through Tuesday

The 3-Year Min/Max Screen shows that "smart money" hedgers established only one new extreme this week. That was in the U.S. dollar, where they're now net long more than 14,000 contracts. That's nearly 40% of the open interest. As we've seen in studies posted to the site, however, this has not been an effective indicator for the dollar. Normally, this would be a good sign for a market, but the Backtest Engine shows that out of 105 weeks when hedgers have held this much of the open interest net long, the dollar rallied over the next 3 months only 27 times, a 26% win rate, with an average return of -2.2%. Maybe traders are winding down for the year, because there were no other moves of note, with hedgers mostly making small adjustments to existing positions.