S&P 500 Futures See Moderate Pickup While Nasdaq, Russell Remain Neutral
Samantha LuanS&P 500 futures experienced a moderate pickup in new long risk flows last week, while Nasdaq 100 and Russell 2000 positioning levels remained close to neutral, according to Citigroup strategists.
S&P 500 futures experienced a moderate pickup in new long risk flows last week, while Nasdaq 100 and Russell 2000 positioning levels remained close to neutral, according to Citigroup strategists.
The team, including David Chew, noted in a report that the positioning gap between these indexes suggests investors have not yet fully rotated into a broad risk-on stance.
While S&P 500 futures activity dominated trading, Nasdaq and Russell 2000 positioning showed stabilization but fell short of indicating a wider risk-on consensus.
In European markets, positioning in bank futures has become extended and crowded. The strategists warned that new long additions in this sector increase the likelihood of near-term profit-taking. FTSE and DAX futures positioning has been losing momentum as investors reduce long positions.
Asian equity flows presented a mixed picture last week. South Korea's Kospi was identified as particularly vulnerable due to stretched positioning and ongoing profit-taking.
