..always concerning when positioning gets too CROWDED.
S&P 500 retreats from peaks in futures positioning
-13% from Dec 2014 - Feb 2016
-18% from Jan 2018 - Dec 2018
-34% from Feb 2020 - Mar 2020
-25% from Jan 2022 - Oct 2022
Not a forecast, not an investment strategy, just FYI
...just thinking about all the US folks buying into the Fed dovish cheer, experiencing a rollercoaster ride of +530pts to +87pts in an hour!
...when markets can do this, it is on shaky ground.
