Education - Obsidian Macro

CFTC Non-Commercial Net Long Positioning

CFTC NON-COMMERCIAL DATA

Comprehensive net long positioning metrics across Equities, Rates, Currencies, and Commodities.

Sourced from: cftc as of monday 12 october.jpg

CFTC NON-COMMERCIAL NET LONG POSITIONING

Negative Z-Score Positive Z-Score

Metric		Latest	W/W Chg	3M Ave	6M Ave	1Y Ave	3Y		Z-Score
Metric		Latest	W/W Chg	3M Ave	6M Ave	1Y Ave	Max	Min	1Y	3Y
Equities	SPX (Index + E-mini)	(125,076)	(14,152)	(42,338)	(76,853)	(101,814)	128,528	(236,347)	-0.41X	-0.50X
	VIX	(79,610)	(330)	(76,794)	(62,246)	(66,927)	10,943	(120,434)	-0.59X	-1.12X
	Russell 2000 (mini)	(77,897)	(2,334)	(48,510)	(33,316)	(27,305)	26,840	(94,637)	-1.93X	-1.83X
	Dow Jones (mini)	9,845	(266)	15,015	6,654	(74)	24,410	(37,076)	0.89X	0.53X
	Nasdaq (mini)	52,105	(4,308)	12,331	5,363	19,414	59,938	(37,653)	1.39X	1.93X
Rates	10Y UST	(847,007)	(21,761)	(840,989)	(818,687)	(812,538)	(297,553)	(1,147,933)	-0.48X	-0.62X
	2Y UST	(799,789)	121,211	(1,001,299)	(1,253,557)	(1,305,816)	(799,789)	(1,754,980)	2.10X	2.40X
	5Y UST	(1,007,482)	(93,969)	(1,214,764)	(1,318,029)	(1,755,772)	(913,513)	(2,656,855)	1.53X	1.63X
	UST Bonds	(183,877)	(32,399)	(188,946)	(164,818)	(89,226)	53,435	(217,418)	-1.12X	-1.75X
	30D Fed Funds	(60,626)	(58,581)	(233,254)	(173,115)	(94,600)	310,943	(407,579)	0.19X	0.24X
Currencies	$USD	11,835	1,529	16,020	10,644	1,720	22,495	(16,381)	0.89X	0.77X
	JPY	57,598	(13,559)	(47,542)	(82,431)	(41,676)	176,086	(189,560)	1.36X	0.82X
	EUR	(116,732)	(22,331)	(69,707)	(38,974)	26,695	153,708	(116,732)	-1.78X	-2.25X
	GBP	(102,088)	(11,491)	(66,236)	(65,774)	(56,291)	147,196	(108,572)	-1.83X	-1.91X
	AUD	(67,780)	(18,886)	(41,824)	918	(6,603)	84,679	(107,625)	-1.11X	-0.61X
	CAD	(80,231)	(25,577)	(129,466)	(103,315)	(84,866)	33,915	(197,113)	0.07X	0.23X
	MXN	52,492	(22,747)	78,510	71,256	79,139	139,721	(1,366)	-1.79X	-0.43X
	NZD	(17,703)	(5,894)	(29,258)	(36,168)	(37,832)	30,743	(65,663)	1.30X	0.17X
	CHF	(28,496)	825	(31,500)	(33,907)	(35,095)	(3,319)	(50,931)	1.14X	0.12X
Commodities	CRUDE OIL	190,022	(24,858)	179,979	213,645	188,776	354,330	89,472	0.02X	-0.45X
	GOLD	124,418	(6,916)	132,507	117,153	114,227	254,841	(14,788)	0.58X	-0.46X
	COPPER	85,563	(4,656)	78,459	72,876	61,903	91,912	(33,575)	1.63X	1.85X
	Natural Gas	(232,159)	(16,557)	(201,833)	(191,579)	(176,609)	(49,985)	(232,159)	-2.09X	-2.41X
	RBOB Gasoline	65,087	(4,136)	62,615	58,686	66,568	102,336	11,588	-0.09X	0.58X
	ULSD Heating Oil	12,059	967	10,974	7,605	13,083	37,224	(34,953)	-0.14X	0.15X
	Silver	20,427	(3,823)	22,591	23,292	26,466	66,380	7,344	-1.00X	-1.22X
	Platinum	13,322	(2,391)	13,685	15,137	15,819	37,588	(4,532)	-0.94X	-0.37X
	Corn	413,811	(45,957)	289,441	234,713	124,534	486,620	(277,559)	1.54X	2.01X
	Soybeans	252,191	(29,242)	191,580	176,434	165,667	281,433	(194,765)	1.16X	1.79X
	Wheat	(22,373)	(9,806)	(15,205)	(23,864)	(39,076)	21,085	(127,687)	0.57X	1.08X
	Live Cattle	48,041	6,873	64,502	101,370	111,733	174,774	30,899	-1.98X	-1.56X
	Lean Hogs	(51,824)	(9,065)	(30,098)	(1,756)	52,974	166,410	(51,824)	-1.59X	-2.09X
	Sugar	222,456	3,926	97,297	2,284	(78,087)	245,211	(237,843)	2.32X	2.07X
	Cotton	90,903	(6,974)	108,093	97,433	31,834	133,147	(66,025)	0.85X	1.53X
	Coffee	11,820	3,036	22,791	19,568	26,299	76,932	(19,788)	-1.11X	-1.55X
	Cocoa	(25,131)	553	(17,489)	(21,069)	(14,659)	74,635	(29,350)	-1.01X	-1.49X
	Orange Juice	169	(56)	305	1,069	626	6,881	(2,570)	-0.35X	-1.19X

Information compiled and transcribed directly from cftc as of monday 12 october.jpg. Negative values represented in parentheses.

CFTC COT Positioning Extremes

CFTC COT Positioning Extremes: Sugar (+2.32x) & 2Y UST (+2.10x) Lead Bullish Highs, Natural Gas (-2.09x) Hits Deep Short

Visualizing net non-commercial positioning deviations. Data represents 1-Year vs 3-Year Z-Scores across Equities, Rates, Currencies, and Commodities.

Style ref: cot_positioning_shifts_comparison New.jpg | Data: cftc as of monday 12 october.jpg