Mar. 13 at 5:06 AM
$SPY $SPX $SH $VIX $VXX >>
As of mid-March 2026,
Commodity Trading Advisors (CTAs)—systematic funds that use algorithmic models to follow market trends—are executing a massive de-risking phase by selling global equities.
Current CTA Selling Activity
Scale of Unwind: Bank of America Global Research reported that CTAs recently slashed their net long exposure to global equities from approximately
$180 billion following a wave of market volatility.
Projected Pressure: Goldman Sachs estimates that CTAs are currently showing sell signals across all scenarios, with projected selling volumes of
$35 billion to
$87 billion over the coming week.
Regional Progression: Selling initially concentrated in European and emerging market equities before spreading to major U.S. indices like the S&P 500 and Nasdaq.
Positioning Status: Aggregate positioning in U.S. indices has "flattened materially," with only residual long exposure held by slower, long-term trend followers.
