Aug. 4 at 8:09 PM
BoA: CTA positioning in US equities: “On Friday trend followers took losses on long equity index positions across the globe. The declines in the S&P 500 & NASDAQ-100 leave CTA stop loss triggers closer with larger selling expected if the indices see a bearish price path. Positioning is in consensus across the spectrum of trend followers, so unwind impact could be more felt.”
Currently they see initial sell triggers at 6186, 22860, & 2139 for the SPX, NDX, & RUT respectively, which means we’re already there for NDX and less than a percent away for the SPX & RUT.
—- this didn’t exactly go according to plan today!!!
$SPY $QQQM $IWM