Gold may be starting its next leg higher. Central-bank and Chinese demand remain strong, Western positioning is far from euphoric, liquidity conditions are improving and GLD options positioning $400 firmly on my radar and $4700 later on in the year
CFTC COT Report Analysis: Week of July 28, 2026
The July 28 CFTC COT report shows a clear improvement in Nasdaq and S&P 500 positioning, supported by new long buying and short covering. Russell 2000 lagged, metals lost speculative support, crude oil improved and DXY positioning became increasingly elevated.
Market Volatility Cools as Amazon Earnings Support the AI Trade
Yesterday’s short squeeze removed much of the fear priced into the market, while Amazon’s earnings supported the broader AI trade. Here is what volatility forecasts and options positioning suggest for SPY, QQQ and SOXX.
CFTC COT Report Analysis – Week Of July 21, 2026
The July 21, 2026 CFTC COT report shows divided equity positioning, with Nasdaq facing fresh leveraged-fund short pressure while S&P 500 and Russell 2000 bearish exposure eased. Gold remains constructive but crowded, crypto positioning is cautious, and DXY positioning is becoming less polarised.
CFTC COT Report Analysis Week of July 14, 2026
The July 14, 2026 CFTC COT report shows weaker positioning across major equity futures, constructive but crowded gold exposure, and mixed signals in Bitcoin, Ether, VIX and the U.S. dollar. Nasdaq and Russell 2000 recorded the clearest negative weekly flows, while gold attracted new longs and short covering.
paypal-stock-stripe-takeover-offer-options-flow
PayPal stock surged after reports of a $53 billion takeover offer from Stripe and Advent International. SmartFlow data showed $891,000 in net bullish PYPL options flow building in the days before the news.