The latest Commitments of Traders report was released, covering positions through Tuesday
The 3-Year Min/Max Screen shows that the only new extremes were in S&P 500 futures. Between the large and e-mini contracts, "smart money" commercial hedgers are now holding nearly $53 billion worth of contracts net short. That's a new record short, eclipsing the prior record of $48 billion net short at the end of October 2018. This is not a perfect indicator by any means, but we would consider it a minor warning sign. There were no notable moves in other contracts, with hedgers mostly making small changes during a low volume week.
