Copper recently demonstrated that an extreme crowded positioning reading (score of 100) does not automatically signal a crash; instead, the market can digest the overcrowding through time rather than price correction, with copper cooling its positioning from 100 to 75 over 6 weeks without breaking lower.
causalpending
Speaker
Missile BegnanEvidence Quote
“An extreme is a condition not a signal because there are two ways a crowded trade resolves. Copper this time chose time. Over six weeks of sideways action, specs quietly trimmed 14,000 contracts. The score cooled from 100 back down to 75. But price never really broke down.”
Created: 8/12/2026, 6:13:28 PM
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