5 best Daily Charts and Insights: Short interest in the QQQ Nasdaq ETF has surged

AfraSimon
16:19

1. Q3 GDP

Spending on data centers & computers is now America's single largest investment by far: 50% larger than single-family home construction, 3x factories, or 6x apartments

2. PCE

AI-driven inflation in core PCE is slowing finally.

3. AAII Sentiment Survey

The AAII bull-bear spread's 52-week moving average has been negative for 72 consecutive weeks, the third-longest streak on record.

$S&P 500(.SPX)$ is +29% over this period. The two streaks that lasted longer were 2008-10 and 2022-23.

4. Low Vol crowding.

The cautious backdrop (hyperscaler earnings, $Anthropic(ANT)$ S-1, Brazil, midterms, etc) has coincided with a further shift toward defensive positioning, with crowding in the Low Vol factor rising to ~18%ile from the ~0%ile back in June.

5. Short interest

Short interest in the $Invesco QQQ(QQQ)$ has surged.

This has likely a lot to with long/short hedge funds, who use liquid ETFs as well as index futures and options to adjust their betas.

But they are not shorting outright. Instead they are shorting index risk to mitigate their net positions"


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  • ys99027
    ·20:43
    Memory and networking still need cleaner order visibility first, otherwise this stays an Nvidia-led story with a narrow earnings base
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