Quoting turbokaosDislikedwhy not use commitment of tradersIgnored
I am interested in trader sentiment because of its application to deciding whether it is worth trading a retracement after news. Admittedly a very limited application. To some extent it may also be applicable to deciding whether to trade the news (more likely to want to trade news if the numbers are in the direction of trader sentiment, more likely to want to trade the retracement if the numbers are contrary to trader sentiment). Of course, this is not the only factour to be considered, but it would be a very useful addition to the equation.