Institutions are loaded up on $SPY like never before.
Net long positioning in US equity futures just hit $330 billion — only $10 billion shy of the all-time high from last year.
That's a $100 billion jump in just 6 months.
Put this in perspective: From 2010 to 2023, institutional positioning never even crossed $150 billion. Now we're sitting at more than double that.
Asset managers, hedge funds, CTAs — everyone's leaning the same way.
When everyone's on one side of the boat, it doesn't take much to tip it. Just something to keep in mind as we push higher.
Net long positioning in US equity futures just hit $330 billion — only $10 billion shy of the all-time high from last year.
That's a $100 billion jump in just 6 months.
Put this in perspective: From 2010 to 2023, institutional positioning never even crossed $150 billion. Now we're sitting at more than double that.
Asset managers, hedge funds, CTAs — everyone's leaning the same way.
When everyone's on one side of the boat, it doesn't take much to tip it. Just something to keep in mind as we push higher.
