Top 10 Macro/Financial Charts of the Week – w42

Stock Options Traders Are Back At The Speculation https://t.co/lve2ICTuew

— zerohedge (@zerohedge) October 17, 2020

3. Speculative futures positioning has gone from net-short to net-long, not extreme by any means, but certainly a significant turnaround.$SPX $SPY pic.twitter.com/XQ8ZJJNE1c

— Callum Thomas (@Callum_Thomas) October 17, 2020

3 weeks ago, large speculators were net short about $47 billion worth of equity index futures.

As of Tuesday, they're net *long* about $25 billion worth.

That $72 billion swing is…large. pic.twitter.com/rN1uUSjkFV

— SentimenTrader (@sentimentrader) October 16, 2020

Total Positioning in Stocks minus Bonds.

Spiking to the 2nd highest cluster in history – note OCT 2018 was *the* structural peak in Stocks relative to Bonds.

These are historic imbalances building across Major asset classes – at significant risk of a large disruption event. pic.twitter.com/Gz4UQoY9yl

— Macro Charts (@MacroCharts) October 17, 2020

$QQQ updated Call activity still shows no fear in the market.

Complacency remains high – at this pace, could be a long & difficult road ahead.

Worse: Macro catalysts are turning *significantly* lower in critical areas – will cover this in detail the next few days.

Stay nimble. pic.twitter.com/oIS8NdATZs

— Macro Charts (@MacroCharts) October 15, 2020

Hedge Funds are "MAX" long Stocks:

GS PB data shows Equity Fundamental LS Gross and Net leverage at or near the highest levels on record (since 2015).

This chart *completely* debunks the consensus narrative that "everyone" is underinvested/Short Equities.

h/t @themarketear pic.twitter.com/qdsCqLPsdF

— Macro Charts (@MacroCharts) October 14, 2020

The most critical Equity chart I'm watching (updated):$NDX Volatility tried to break out – and is forming another very tight pivot at its rising 200d.

Possible stair-stepping pattern – a break from this area could trigger a big move (either way) – maybe soon. Watching closely. pic.twitter.com/Xx8gk4pxaD

— Macro Charts (@MacroCharts) October 16, 2020

Covid-19 hospitalizations in the US rise to their highest level since Aug 27. The 3rd wave.

Chart via @ycharts pic.twitter.com/E4QB6XhalQ

— Charlie Bilello (@charliebilello) October 16, 2020

The pandemic is distorting euro area inflation data, but today's final HICP report provides another brutal reality check for the ECB – a thread with charts. https://t.co/BBM2RDQF3B

— Frederik Ducrozet (@fwred) October 16, 2020

In about 2 and a half years – for the first time in recorded history – China will no longer be the most populous nation on earth

India is expected to take the number 1 spot in 2023 (#coronavirus might change it by a month or two) pic.twitter.com/76PMGodZit

— Charlie Robertson (@RencapMan) October 13, 2020