The latest Commitments of Report was released, covering positions through Tuesday
The 3-Year Min/Max Screen shows that "smart money" commercial hedgers added a bit to position in major equity index futures, now holding about $17 billion worth of contracts net short. Doesn't seem to be saying a whole lot at the moment, though it looks to be more positive in small-cap Russell 2000 futures. Hedgers are also reducing long positions in the VIX, with one of the lower net long positions in 3 years. That's not extreme when looking out further, but lower positions tend to be positive for stocks (as hedgers bet less on a rise in volatility). They continue to reduce net short positions in gold, silver, and metals in aggregate. In gold, they're holding the fewest short positions as a % of open interest since June 2019. Major long-term bottoms came when they had reduced shorts by a much larger degree, however.
