One Dow futures Non Reportable category covers what are more commonly referred to as “small speculators”. This group is below the reporting level specified by the Commodity Futures Trading Commission. Due to the Government shutdown, data reports have been delayed with the latest update covering November 18, 2025. The following chart illustrates the number of short positions held by small speculators. They are currently in a position that is similar to December 31, 2024, prior to the Dow’s decline in February 2025. Based on the following data, when this group of traders holds a significant number of short positions, the Dow has a tendency to move higher. When they hold relatively few short positions, the Dow trends lower. The upcoming expected change should provide additional data for this observation.
Note that this information is for educational purposes only and not a recommendation.
Stock charts courtesy of http://StockCharts.com.
