Data-Driven Trading Research
Trusted by professionals
for the predictive power of our futures indicators across global markets
EQUITY FUTURES • COMMODITY FUTURES • RATES FUTURES • FX FUTURES • CRYPTO FUTURES
Futures Positioning Model
LONG POSITIONS INDEX • SHORT POSITIONS INDEX • NET POSITIONS INDEX
The Futures Positioning Model computes a daily estimate of aggregate market positioning by analyzing changes in futures prices and open interest dynamics.
The Position Index is the core output of this model, providing a unified view of market positioning through Long, Short, and Net exposure, reflecting the activity of liquidity takers across the full multi-year lifecycle of each futures contract.
Built on this continuous tracking of market positioning, we derive the following proprietary indicators.
“Markets always move to hurt the most people.”
— Paul Tudor Jones
Indicators and Signals
Our model continuously tracks changes in positioning across all major futures contracts, measuring Positioning Momentum, Accumulation, and Running PnL.This systematic approach provides an unbiased, consistent view of aggregate market positioning throughout the entire lifecycle of each contract.
Momentum Score (Signal: ±1 )
The Momentum Score measures the strength of changes in market positioning. Readings above +1 (long) or below –1 (short) indicate significant shifts that often anticipate larger position adjustments or trend developments.
Accumulation Score (-10 to +10)
The Accumulation Score measures the concentration of positioning on a scale from –10 to +10. Readings near +10 (Concentrated Long) or –10 (Concentrated Short) signal increased risk of position unwinding or market reversals.
Net P&L Oscillator
The Net P&L Oscillator tracks fluctuations in estimated unrealized profit and loss, using entry levels derived from the Position Index. It highlights zones where profits or losses are most likely to trigger position closures.
Positions Snapshot
Position Snapshots provide point-in-time visualizations of key price levels where outstanding Long and Short positions are estimated to be concentrated.
“In any market that interests him, he identifies the buyers and sellers, estimates how much they are likely to demand and supply, and then looks at whether his findings are already reflected in the market price. If not, there may be money to be made.”
— The New Yorker, profiling Ray Dalio, Founder of Bridgewater Associates
Weekly Market Positioning Report
Try It Free for One Month
A deep dive into how market positioning evolves week by week, highlighting shifts in Positioning Momentum, Accumulation patterns, and directional pressure for each individual futures contract across all major asset classes. Futures Positioning Updates are delivered directly to your inbox every week. Select the asset classes you want to follow — and stay ahead of positioning shifts as they happen.
