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Market sentiment
Three honest measures of whether the market is bullish or bearish, and they do not always agree. That disagreement is usually the most useful thing on this page.
Crypto Fear & Greed
Recent readings
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A reading near zero means people are panicking, near 100 means they are euphoric. It is built from volatility, momentum, volume, social chatter and Bitcoin's share of the market. Contrarians treat extremes as a signal to do the opposite; that is a philosophy, not a fact.
Futures positioning positions as of Tuesday, Nov 3
This is the latest report. The CFTC records positions every Tuesday and publishes them that Friday at 3:30 p.m. ET. This one came out Friday, Nov 6. The next one, covering Tuesday Nov 10, is due Friday, Nov 13.
Every week the CFTC publishes who is long and who is short in the big futures contracts. This is large speculators: funds and professional traders with real money at risk. It is the closest thing to a scoreboard of what the smart money is actually betting on.
Stock index
| Dow 30 | 71.5% long | +12,514 net+2,915 this week | |
| Nasdaq 100 | 67.6% long | +45,216 net-1,337 this week | |
| Russell 2000 | 45.1% long | -23,654 net+12,425 this week |
Crypto
| Bitcoin | 53.8% long | +2,230 net-490 this week |
Currencies
| Japanese yen | 64.5% long | +102,321 net+730 this week | |
| Euro | 37.2% long | -157,791 net-13,897 this week | |
| British pound | 34.0% long | -59,821 net+19,593 this week |
Metals
| Gold | 84.3% long | +179,548 net-6,903 this week | |
| Silver | 70.1% long | +21,251 net+1,548 this week | |
| Copper | 64.1% long | +37,710 net-10,607 this week |
Energy
| Natural gas | 34.2% long | -258,863 net-3,699 this week |
Non-commercial (speculative) positions from the CFTC's Commitments of Traders report. Published Fridays for the previous Tuesday, so it is always a few days behind. Heavy one-way positioning is a crowded trade, and crowded trades unwind hard when they turn.
Technical rating
What the charts alone say, with no news and no positioning: moving averages and oscillators reduced to one verdict per market.
S&P 500
Nasdaq 100
Bitcoin
Gold
EUR/USD
Crude oil
Market data by TradingView. Some quotes may be delayed. Not investment advice.
How to use this page
- Look for disagreement. When Fear and Greed says euphoria but futures positioning is falling, somebody is wrong, and it is usually not the people with money on the line.
- Extremes matter more than the middle. 50 tells you nothing. 90% of speculators on one side of gold tells you a lot.
- Positioning is a week old. It is a picture of where the crowd was, not where it is. Treat it as context, not a trigger.
- Sentiment is not a forecast. A crowded trade can stay crowded for months and keep paying. It just gets more dangerous the longer it lasts.
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Market information, not investment advice.
