CTAs are short -$34B of US equities and long $52B of European equities.
This is the largest spread we have EVER seen.
$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $iShares Russell 2000 ETF(IWM)$ $SPDR EURO STOXX 50 ETF(FEZ)$
Image
I just said that on Tuesday：
CTAs essentially entered this week max short, which looks to be turning into a massive tailwind now.
GS estimates the largest 1M CTA buying demand since Nov 2023.
The $S&P 500(.SPX)$ finished +5.7% in Nov ‘23.
Image
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
