Happy Easter everyone and welcome back to your Positioning Watch series. The data is now up to speed again and you can always find ALL positioning data readily available in our datahub.

We will highlight the most important conclusions weekly in this series.

Equity positioning: Nasdaq positioning is LONG again

– Nasdaq positioning has flipped in recent weeks and is now LONG again after a very stretched short towards the beginning of 2023. This is something to worry about for Tech bulls

– Overall equity positioning remains short but the sentiment is not overly bearish across styles/sectors

We have only seen Nasdaq positioning as positive as this over the summer of 2022 when the soft landing narrative prevailed. Equities and bonds rallied in tandem when inflation peaked in June but the “higher for longer” soon killed the positivity in tech again.

We see an increasing risk that the upcoming credit contraction has the potential to pull the rug from under the current positivity in Tech.

Find out about positioning across other asset classes below and how to use it in your asset allocation strategy. Remember that the first 14 days are FREE.