On July 23, 2024 a record level of Non-Commercial Futures Traders Net (Long-Short) positions was recorded for the British Pound. This is well above the previous record set on July 17, 2007. After the July 2007 futures positions peak there was a delay of approximately three and one half months before the Dow, S&P500, and NASDAQ started a decline. The 10-Yr Note yield was also in decline during this time. With a significantly larger number of futures trader positions recorded on July 23, 2024, a longer delay for a decline in the stock markets is anticipated. It has been five and one half months since the peak on July 23, 2024. The 10-Yr Note yield is currently in decline, as it was in 2007. A decline in the stock markets is still expected as capital from around the world continues to move into U.S. Dollars.
Note that this information is for educational purposes only and not a recommendation.
Stock and currency charts courtesy of StockCharts.com.
