Commitment of Traders for NDX & RUT
Commercials are short the Nasdaq 100 and long the Russell 2000.
On the Nasdaq, the hedgers’ net short is near the bottom of the chart, and the 6-month COT index is at 0. Speculators are the ones long.
On the Russell, it is the other way around: commercials are heavily long, speculators are heavily short, and both COT indexes are up near 100.
The Nasdaq is the crowded long. Small caps are the crowded short.
Could we get a rotation again, with small caps outperforming tech? Worth paying attention.