Across major US and Asian indices, sentiment moved closer into extreme buy territory. Long positioning in the S&P 500 rose to 77% (from 74% at the start of last week), with similar moves in the Nasdaq (73%, up from 60%) and the Russell 2000 (69%, from 66%). In Asia, long sentiment in the Nikkei surged to 77% (from 71%) and the Hang Seng pushed further into extreme buy at 87% (from 83%).
The Dow Jones was the exception, with long bias easing to 59% (from 63%) as the index outperformed and traders rotated away from relative winners.
Meanwhile, positioning across commodities was mixed but decisive. Gold sentiment eased out of extreme buy territory to 71% long (from 78%) as price breached $4.3K, while silver flipped sharply higher to 78% (from 72%) after a late-week pullback as trend-traders sought to enter once more. In energy, WTI sentiment climbed to a striking 92% long (from 78%), one of the most elevated readings this month, while natural gas flipped dramatically from 63% short to 70% long.
In FX, weakening USD momentum drove shifts in major crosses. EUR/USD flipped from a slight long bias to 54% short, while GBP/USD saw long positioning rise to 61% (from 52% a week ago).
“What we’re seeing is a rotation driven by the AI trade,” said Monte Safieddine, Head of Market Research, MENA at Capital.com.
“Pullbacks in tech-heavy indices have triggered pronounced buy-the-dip behaviour, while commodities and FX show traders repositioning around a softer dollar and volatile energy markets.”
About Capital.com:
Capital.com is a high-growth fintech company empowering people to participate in financial markets through simple and innovative online trading platforms. Launched in 2016, its intuitive award-winning platform —available on web and app —enables investors to trade thousands of world-renowned markets. To help investors trade with confidence, the platform is fitted with robust risk management controls, transparent pricing and extensive educational content to support clients in their trading journeys.
Capital.com is one of the fastest-growing trading platforms in the sector with client trading volumes exceeding $1trillion. In 2024, the company was recognised as the fastest growing tech-enabled platform in the Middle East and Cyprus for the third-straight year by Deloitte Technology’s Fast 50 programme.
Capital.com has a global network with offices located in leading business and financial centres including London, Dubai, Warsaw, Nassau, Sofia, Limassol, and Melbourne. Capital Com (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 793714. Capital Com SV Investments Limited is Authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), under licence number 319/17. Capital Com Australia Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL Number 513393. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised to carry out Securities Business by the Securities Commission of The Bahamas with licence number SIA-F245. Capital Com Mena Securities Trading LLC is authorised and regulated by the Securities and Commodities Authority (SCA), under license number 20200000176.
