Investors have rarely been this bullish on tech. Long speculative positioning in Nasdaq futures is up to nearly 50% of open interest, its highest since 2017. This covers hedge funds, CTAs, and other institutional investors trading Nasdaq futures. In other words, the net long N

Investors have rarely been this bullish on tech. Long speculative positioning in Nasdaq futures is up to nearly 50% of open interest, its highest since 2017. This covers hedge funds, CTAs, and other institutional investors trading Nasdaq futures. In other words, the net long Nasdaq futures position of these investors equals ~50% of all currently open Nasdaq futures contracts. This marks a sharp reversal from a net short position as a % of open interest just a few weeks ago. By comparison, Nasdaq net long positioning was below 25% of open interest for most of 2021-2025. Meanwhile, net short positioning in Russell 2000 futures is down to -30% of open interest, its most bearish level since late 2025. Investors are becoming extremely bullish on tech.