Large and small speculators are now both crowded long on S&P 500 and Dow after small specs added ~30 points of positioning in one week, putting both groups at the 90th percentile of one-year positioning range, which increases vulnerability to downside volatility if sentiment shifts.
factualpending
Speaker
Missile BegnanEvidence Quote
“Small speculators are piling in too. That was the biggest jump in positioning on the board. Almost 30 points in just one week. Both groups now are sitting at 90 on their one-year positioning score.”
Created: 8/12/2026, 6:13:28 PM
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