Consensus - THE CONSENSUS® REPORT OF THE COMMITMENTS OF TRADERS MARKET COMPOSITION

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THE CONSENSUS® REPORT OF THE COMMITMENTS OF TRADERS MARKET COMPOSITION

Derived from the Bi-Weekly Report Published by the Commodity Futures Trading Commission*

Showing Percentage Each Group Comprises of Each Market and Percentage of Each Group in Long Positions

Reportable Positions
Exchange & Commodity Non Comm. Long or Short Only Non Comm. Long or Short (Spreading) Comm.** Long or Short Only Total
Reportable
Positions Non
Reportable
Positions***

Reporting
Level Pct.
of Mkt. Pct.
Long Pct.
of Mkt. Pct.
Long Pct.
of Mkt. Pct.
Long Pct.
of Mkt. Pct.
Long Pct.
of Mkt. Pct.
Long
T-Bonds (CBOT) 500 contracts 8.11 52.2 10.3 50 59.6 49.4 78 49.7 22 50.9
Last Reporting Period 7.16 58.7 9.74 50 63.8 48.4 80.7 49.5 19.3 52.1
T-Bonds (MACE) 500 contracts 41.4 54.7 0 50 3.11 100 44.5 57.9 55.5 43.7
Last Reporting Period 27.3 47.7 0 50 6.08 86.1 33.3 54.7 66.7 47.7
90-Day T-Bills (IMM) 150 contracts 22.2 25.7 0 50 49.6 43 71.8 37.7 28.2 81.4
Last Reporting Period 15.6 22.7 6.06 50 48.6 37.3 70.3 35.1 29.7 85.1
6.5-10Yr. T-Notes (CBOT) 500 contracts 6.82 61.3 4.62 50 68.9 50.5 80.3 51.4 19.7 44.3
Last Reporting Period 5.87 47.4 4.39 50 70.7 52.5 80.9 52 19.1 41.6
5-Yr. T-Notes (CBOT) 300 contracts 10 61.9 2.14 50 72.3 50.4 84.4 51.8 15.6 40.4
Last Reporting Period 9.39 46.5 0 50 78.1 51.9 87.5 51.3 12.5 40.7
2-Yr. T-Notes (CBOT) 200 contracts 8.72 43.8 3.13 50 65.3 57.4 77.1 55.6 22.9 31.3
Last Reporting Period 10.7 32.2 0.09 50 67.3 59.1 78.1 55.4 21.9 30.6
Eurodollars (IMM) 850 contracts 4.93 33.9 4.98 50 62.7 54.9 72.6 53.1 27.4 41.8
Last Reporting Period 4.32 34.5 4.9 50 62.9 55.3 72.1 53.7 27.9 40.5
1-Mo.LiborRate(IMM) 100 contracts 6.93 44.1 7.07 50 75.7 50.7 89.7 50.1 10.3 49
Last Reporting Period 5.55 35 2.83 50 78.7 51.5 87.1 50.4 12.9 47.1
Municipal Bonds (CBOT) 25 contracts 9.96 75.7 1.97 50 79.7 46.6 91.6 49.9 8.41 51.6
Last Reporting Period 7.74 62.3 1.64 50 82.3 48.2 91.7 49.4 8.28 56.9
30-Day Fed Funds (CBOT) 100 contracts 5.32 73.8 4.59 50 76.2 50.7 86.1 52.1 13.9 37.2
Last Reporting Period 4.86 65.9 1.15 50 81 49.7 87 50.6 13 45.7
Canadian Dollar (IMM) 200 contracts 7.61 49.8 2.56 50 61.6 37.5 71.7 39.3 28.3 77.2
Last Reporting Period 12.7 40.7 2.82 50 56.9 40.1 72.4 40.6 27.6 74.7
Swiss Franc (IMM) 200 contracts 18.3 84.2 1.09 50 45.9 29.2 65.3 45 34.7 59.4
Last Reporting Period 21.1 83.5 1.91 50 45 25.3 68 44.1 32 62.6
Deutschemark (IMM) 200 contracts 12.5 16 0.85 50 62.9 62.8 76.2 55 23.8 34
Last Reporting Period 13.2 53.9 0.68 50 60.8 49.3 74.6 50.1 25.4 49.6
Pound Sterling (IMM) 200 contracts 15.6 92.8 0.11 50 59.8 32.6 75.5 45.1 24.5 65.1
Last Reporting Period 14.1 94.3 0.89 50 56.4 28.7 71.5 42 28.5 70.2
Japanese Yen (IMM) 200 contracts 19.6 66.4 0.55 50 57.9 38.3 78 45.4 22 66.3
Last Reporting Period 19.4 68.5 0.48 50 54.5 37.2 74.4 45.5 25.6 63.2
Australian Dollar (IMM) 200 contracts 19 0 0.01 50 55.8 72.6 74.8 54.1 25.2 37.8
Last Reporting Period 4.1 41 9.20 50 66.1 55.3 70.3 53.1 2 9.7 42.6
Mexican Peso (IMM) 200 contracts 4.93 60.8 1.05 50 70.3 49 76.3 49.8 23.7 50.6
Last Reporting Period 4.29 60.7 2.61 50 69.6 50 76.5 50.6 23.5 47.9
30-Day Fed Funds (IMM) 100 contracts 6.76 0 0 50 87.3 55.1 94.1 51.2 5.91 31.4
Last Reporting Period 6.7 60 0 50 87.3 55.1 94.1 51.2 5.91 31.4
S&P 400 (IMM) 25 contracts 4.69 31.8 0 50 87.6 50.2 92.3 49.2 7.7 59.1
Last Reporting Period 5.7 74 7.70 50 88.3 49.5 94.1 49.4 5.89 60.4
S&P 500 (IMM) 300 contracts 6.42 34.9 1.78 50 67.9 50.1 76.1 48.8 23.9 53.8
Last Reporting Period 5.76 29.4 1.05 50 69 50.7 75.8 49.1 24.2 52.8
Value Line Avg. (KCBT) 50 contracts "" "" "" 50 "" "" "" "" "" ""
Last Reporting Period "" "" "" 50 "" "" "" "" "" ""
Mini Value Line Avg. (KCBT) 50 contracts 20.1 44.9 0 50 30.1 58.9 50.2 53.3 49.8 46.7
Last Reporting Period 31.3 64.8 0 50 23.7 72.3 54.9 68 45.1 28
GSCI (IMM) 25 contracts 3.87 46 0.23 50 94.3 49.5 98.4 49.4 1.58 88.6
Last Reporting Period 2.1 39 0.40 50 94.3 49.4 96.5 50.3 3.54 40.5
Nikkei Stock Avg. (IMM) 50 contracts 8.59 84.5 0.29 50 68.9 40.6 77.8 45.5 22.2 65.8
Last Reporting Period 8.5 77 8.30 50 72.3 40.7 80.9 44.7 19.1 72.4
Russel 2000 Index (CME) 25 contracts 12.7 31.9 0 50 81.6 50 94.3 47.5 5.66 90.9
Last Reporting Period 16.7 23.7 0 50 76.1 53.1 92.8 47.8 7.21 78.3
JY/DM XRate (NYCE) 25 contracts 36.5 26.5 0 50 57.9 66.7 94.4 51.1 5.62 31
Last Reporting Period 37.4 28.3 0 50 58.3 66.2 95.7 51.3 4.33 20.3
FF/DM XRate (NYCE) 25 contracts 16.1 75.3 0 50 72 44.9 88 50.5 12 46.6
Last Reporting Period 33.7 19.2 0 50 62.2 67.7 95.9 50.7 4.1 34.6
IL/DM XRate (NYCE) 25 contracts 32.6 28.4 1.79 50 55.6 68.6 89.9 53.7 10.1 16.9
Last Reporting Period 42.4 26 0 50 49.5 76.1 91.9 53 8.13 15.8
DM/BP XRate (NYCE) 25 contracts 21.9 62.6 1.81 50 66.9 44.8 90.6 49.2 9.42 58.1
Last Reporting Period 20.1 57.2 0 50 72.4 48.3 92.5 50.3 7.53 46.9
Eurotop 100 (CMX) 25 contracts 4.14 100 0 50 85.7 45.5 89.8 48 10.2 67.6
Last Reporting Period 4.37 100 0 50 89.9 45.8 94.3 48.4 5.68 77.3
US$ Index (New) (NYCE) 50 contracts 41.2 73.1 22.6 50 16.2 0 80 51.8 20 43
Last Reporting Period 31.8 68.1 47.5 50 6.45 0 85.7 52.9 14.3 32.4
NYSE Compos. (NYFE) 50 contracts 27.5 56.9 4.21 50 7.48 48.4 39.2 54.6 60.8 47.1
Last Reporting Period 29.1 49.7 7.07 50 4.81 81.8 41 53.5 59 47.5
CRB Futures Index (NYFE) 25 contracts 11.3 25.4 70.6 50 0 "" 81.9 46.6 18.1 65.5
Last Reporting Period 11.7 26.4 52.8 50 0 "" 64.5 45.7 35.5 57.7

	Reportable Positions
Exchange & Commodity	Non Comm. Long or Short Only	Non Comm. Long or Short (Spreading)	Comm.** Long or Short Only	Total Reportable Positions	Non Reportable Positions***
	Reporting Level	Pct. of Mkt.	Pct. Long	Pct. of Mkt.	Pct. Long	Pct. of Mkt.	Pct. Long	Pct. of Mkt.	Pct. Long	Pct. of Mkt.	Pct. Long
T-Bonds (CBOT)	500 contracts	8.11	52.2	10.3	50	59.6	49.4	78	49.7	22	50.9
Last Reporting Period		7.16	58.7	9.74	50	63.8	48.4	80.7	49.5	19.3	52.1
T-Bonds (MACE)	500 contracts	41.4	54.7	0	50	3.11	100	44.5	57.9	55.5	43.7
Last Reporting Period		27.3	47.7	0	50	6.08	86.1	33.3	54.7	66.7	47.7
90-Day T-Bills (IMM)	150 contracts	22.2	25.7	0	50	49.6	43	71.8	37.7	28.2	81.4
Last Reporting Period		15.6	22.7	6.06	50	48.6	37.3	70.3	35.1	29.7	85.1
6.5-10Yr. T-Notes (CBOT)	500 contracts	6.82	61.3	4.62	50	68.9	50.5	80.3	51.4	19.7	44.3
Last Reporting Period		5.87	47.4	4.39	50	70.7	52.5	80.9	52	19.1	41.6
5-Yr. T-Notes (CBOT)	300 contracts	10	61.9	2.14	50	72.3	50.4	84.4	51.8	15.6	40.4
Last Reporting Period		9.39	46.5	0	50	78.1	51.9	87.5	51.3	12.5	40.7
2-Yr. T-Notes (CBOT)	200 contracts	8.72	43.8	3.13	50	65.3	57.4	77.1	55.6	22.9	31.3
Last Reporting Period		10.7	32.2	0.09	50	67.3	59.1	78.1	55.4	21.9	30.6
Eurodollars (IMM)	850 contracts	4.93	33.9	4.98	50	62.7	54.9	72.6	53.1	27.4	41.8
Last Reporting Period		4.32	34.5	4.9	50	62.9	55.3	72.1	53.7	27.9	40.5
1-Mo.LiborRate(IMM)	100 contracts	6.93	44.1	7.07	50	75.7	50.7	89.7	50.1	10.3	49
Last Reporting Period		5.55	35	2.83	50	78.7	51.5	87.1	50.4	12.9	47.1
Municipal Bonds (CBOT)	25 contracts	9.96	75.7	1.97	50	79.7	46.6	91.6	49.9	8.41	51.6
Last Reporting Period		7.74	62.3	1.64	50	82.3	48.2	91.7	49.4	8.28	56.9
30-Day Fed Funds (CBOT)	100 contracts	5.32	73.8	4.59	50	76.2	50.7	86.1	52.1	13.9	37.2
Last Reporting Period		4.86	65.9	1.15	50	81	49.7	87	50.6	13	45.7
Canadian Dollar (IMM)	200 contracts	7.61	49.8	2.56	50	61.6	37.5	71.7	39.3	28.3	77.2
Last Reporting Period		12.7	40.7	2.82	50	56.9	40.1	72.4	40.6	27.6	74.7
Swiss Franc (IMM)	200 contracts	18.3	84.2	1.09	50	45.9	29.2	65.3	45	34.7	59.4
Last Reporting Period		21.1	83.5	1.91	50	45	25.3	68	44.1	32	62.6
Deutschemark (IMM)	200 contracts	12.5	16	0.85	50	62.9	62.8	76.2	55	23.8	34
Last Reporting Period		13.2	53.9	0.68	50	60.8	49.3	74.6	50.1	25.4	49.6
Pound Sterling (IMM)	200 contracts	15.6	92.8	0.11	50	59.8	32.6	75.5	45.1	24.5	65.1
Last Reporting Period		14.1	94.3	0.89	50	56.4	28.7	71.5	42	28.5	70.2
Japanese Yen (IMM)	200 contracts	19.6	66.4	0.55	50	57.9	38.3	78	45.4	22	66.3
Last Reporting Period		19.4	68.5	0.48	50	54.5	37.2	74.4	45.5	25.6	63.2
Australian Dollar (IMM)	200 contracts	19	0	0.01	50	55.8	72.6	74.8	54.1	25.2	37.8
Last Reporting Period		4.1	41	9.20	50	66.1	55.3	70.3	53.1 2	9.7	42.6
Mexican Peso (IMM)	200 contracts	4.93	60.8	1.05	50	70.3	49	76.3	49.8	23.7	50.6
Last Reporting Period		4.29	60.7	2.61	50	69.6	50	76.5	50.6	23.5	47.9
30-Day Fed Funds (IMM)	100 contracts	6.76	0	0	50	87.3	55.1	94.1	51.2	5.91	31.4
Last Reporting Period		6.7	60	0	50	87.3	55.1	94.1	51.2	5.91	31.4
S&P 400 (IMM)	25 contracts	4.69	31.8	0	50	87.6	50.2	92.3	49.2	7.7	59.1
Last Reporting Period		5.7	74	7.70	50	88.3	49.5	94.1	49.4	5.89	60.4
S&P 500 (IMM)	300 contracts	6.42	34.9	1.78	50	67.9	50.1	76.1	48.8	23.9	53.8
Last Reporting Period		5.76	29.4	1.05	50	69	50.7	75.8	49.1	24.2	52.8
Value Line Avg. (KCBT)	50 contracts	""	""	""	50	""	""	""	""	""	""
Last Reporting Period		""	""	""	50	""	""	""	""	""	""
Mini Value Line Avg. (KCBT)	50 contracts	20.1	44.9	0	50	30.1	58.9	50.2	53.3	49.8	46.7
Last Reporting Period		31.3	64.8	0	50	23.7	72.3	54.9	68	45.1	28
GSCI (IMM)	25 contracts	3.87	46	0.23	50	94.3	49.5	98.4	49.4	1.58	88.6
Last Reporting Period		2.1	39	0.40	50	94.3	49.4	96.5	50.3	3.54	40.5
Nikkei Stock Avg. (IMM)	50 contracts	8.59	84.5	0.29	50	68.9	40.6	77.8	45.5	22.2	65.8
Last Reporting Period		8.5	77	8.30	50	72.3	40.7	80.9	44.7	19.1	72.4
Russel 2000 Index (CME)	25 contracts	12.7	31.9	0	50	81.6	50	94.3	47.5	5.66	90.9
Last Reporting Period		16.7	23.7	0	50	76.1	53.1	92.8	47.8	7.21	78.3
JY/DM XRate (NYCE)	25 contracts	36.5	26.5	0	50	57.9	66.7	94.4	51.1	5.62	31
Last Reporting Period		37.4	28.3	0	50	58.3	66.2	95.7	51.3	4.33	20.3
FF/DM XRate (NYCE)	25 contracts	16.1	75.3	0	50	72	44.9	88	50.5	12	46.6
Last Reporting Period		33.7	19.2	0	50	62.2	67.7	95.9	50.7	4.1	34.6
IL/DM XRate (NYCE)	25 contracts	32.6	28.4	1.79	50	55.6	68.6	89.9	53.7	10.1	16.9
Last Reporting Period		42.4	26	0	50	49.5	76.1	91.9	53	8.13	15.8
DM/BP XRate (NYCE)	25 contracts	21.9	62.6	1.81	50	66.9	44.8	90.6	49.2	9.42	58.1
Last Reporting Period		20.1	57.2	0	50	72.4	48.3	92.5	50.3	7.53	46.9
Eurotop 100 (CMX)	25 contracts	4.14	100	0	50	85.7	45.5	89.8	48	10.2	67.6
Last Reporting Period		4.37	100	0	50	89.9	45.8	94.3	48.4	5.68	77.3
US$ Index (New) (NYCE)	50 contracts	41.2	73.1	22.6	50	16.2	0	80	51.8	20	43
Last Reporting Period		31.8	68.1	47.5	50	6.45	0	85.7	52.9	14.3	32.4
NYSE Compos. (NYFE)	50 contracts	27.5	56.9	4.21	50	7.48	48.4	39.2	54.6	60.8	47.1
Last Reporting Period		29.1	49.7	7.07	50	4.81	81.8	41	53.5	59	47.5
CRB Futures Index (NYFE)	25 contracts	11.3	25.4	70.6	50	0	""	81.9	46.6	18.1	65.5
Last Reporting Period		11.7	26.4	52.8	50	0	""	64.5	45.7	35.5	57.7

*Reporting positions as of June 3, 1997.
**Futures contracts used for hedging.
***Positions that are below the reporting levels.
*Released from Commodity Futures Trading Commission on June 6, 1997.

Consensus National Futures and Financial On Line Index
Financial Index

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THE CONSENSUS® REPORT OF THE COMMITMENTS OF TRADERS MARKET COMPOSITION

Derived from the Bi-Weekly Report Published by the Commodity Futures Trading Commission*

Showing Percentage Each Group Comprises of Each Market and Percentage of Each Group in Long Positions

Consensus National Futures and Financial On Line IndexFinancial Index

Consensus National Futures and Financial On Line Index
Financial Index