Offsides Macro
· Offsides Macro
· May 31, 2026 at 16:03
· ⏱ 1 min read
| Read on Substack ↗
Summary
The weekly positioning dashboard identifies several asset classes at extreme positioning levels, suggesting potential inflection points. Nasdaq remains in Lower Extreme territory, Nat Gas hits Max Lower Extremes, while USD continues to climb toward Upper Extremes. The data implies mean-reversion risks for crowded trades rather than directional calls.
•S&P 500 positioning is mean-reverting toward neutral after a prior skew.
•Nasdaq remains 'pinned' in Lower Extreme territory, up 23% since the first Risk-On signal in early March.
•Long Bond positioning has re-entered the lower quartile after a prior shift lower.
•Nat Gas reached 'Max Lower Extremes' on both oscillator and absolute basis, placing it on radar.