Markets
Cross-asset positioning: commodities, indices, and the risk regime that frames them.
Risk Sentiment Composite
Institutional positioning across S&P 500, VIX, gold and yen — 0 risk-off, 100 risk-on.
Neutral
64.2
Risk-OffNeutralRisk-On
- S&P 500 (MM)+120,00035%
- VIX (MM)-40,00025%
- Gold (MM)+120,00020%
- JPY (LF)-50,00020%
Commodities
Disaggregated COT — producers are the smart money.MarketPhaseHedgingProducer netManaged money
GoldTrendUnder-hedged · Bullish-125,000+120,000Crude Oil (WTI)TrendUnder-hedged · Bullish-320,000+180,000SilverTrendUnder-hedged · Bullish-36,000+20,000CopperCapitulationUnder-hedged · Bullish-35,000-20,000Indices
TFF speculative positioning — the risk-on/off tell.MarketLeveraged funds net
S&P 500 E-mini+120,000Nasdaq 100 E-mini+45,000VIX Futures-40,000