DC Lite #413

"The systematic community has now purchased over $365bn of global equities over the last 75 trading days, and positioning had been getting closer to full"

Daily Chartbook
August 04, 2025

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1. Crypto asset flows. "Digital asset investment products saw US$223m in outflows, reversing early-week inflows of US$883m ... Bitcoin led the outflows with US$404m ... Ethereum posted its 15th straight week of inflows (US$133m), while XRP, Solana, and SEI also attracted notable inflows."

James Butterfill - CoinShares

2. Corporate insiders. "Insiders at just 151 S&P 500 companies bought their own stocks last month, the fewest since at least 2018 ... purchases dropped even more, pushing the ratio of buying-to-selling to the lowest level in a year."

The Washington Service via Alexandra Semenova - Bloomberg

3. Systematic positioning. "The systematic community has now purchased over $365bn of global equities over the last 75 trading days, and positioning had been getting closer to full."

Goldman Sachs via Zero Hedge

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4. CTAs vs. equities. "Estimates over the next week and month are skewed to the downside. We have CTAs as sellers of global equities in every scenario over the next week (concentrated mostly in Europe)."

Cullen Morgan - Goldman Sachs

5. SPX anchored VWAPs. "The one we’re really keeping an eye on right now is the orange VWAP from the May 12 gap ... Because that day was a turning point, where the S&P 500: Gapped above its 200-day moving average, left the dreaded 'meat grinder' zone in the dust, and, triggered a deGraaf Breadth Thrust (not something you see every day)."

Duality Research

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