Russell 2000 COT positioning
Leveraged funds are net short 55,080 contracts in Russell 2000 futures as of Nov 3, 2026, with positioning at 57 of 100 within its 52-week range. From the weekly CFTC Commitments of Traders report.
Positions as of Tue, Nov 3, 2026 · published Fri, Nov 6, 2026 · Source: CFTC
Leveraged funds added to their short position over the past week. That leaves positioning at 57 on a 0–100 scale between its 52-week low and high — with room to move before it reaches an extreme.
WAVG reads this the same way every week across every market, names the factors behind the bias, and flags when positioning reaches the edge of its 52-week range.
What moves Russell 2000 positioning
The E-mini Russell 2000 is the small-cap index, and its positioning is the market's clearest read on the domestic US economy and risk appetite. Small caps carry more debt and thinner margins, so they price in recession fear first and rally first on a soft-landing story.
It is driven by credit conditions, the growth outlook, and rate expectations (smaller firms are more exposed to floating-rate debt). When funds swing heavily short Russell while long the large-cap indices, it signals a defensive, narrow market.
This week's report
| Trader group | Long | Short | Net |
|---|---|---|---|
| Leveraged funds | 100,585 | 155,665 | −55,080 |
| Asset managers | 143,965 | 120,342 | +23,623 |
| Dealers | 112,819 | 83,442 | +29,377 |
Contracts held long, short and net as of Nov 3, 2026 (published Nov 6, 2026). Source: CFTC.
The last 13 weeks
| Week ending | Leveraged funds net | Change | Index (52w) |
|---|---|---|---|
| Aug 11, 2026 | −95,158 | −10,013 | 0 |
| Aug 18, 2026 | −99,786 | −4,628 | 0 |
| Aug 25, 2026 | −97,700 | +2,086 | 2 |
| Sep 1, 2026 | −109,499 | −11,799 | 0 |
| Sep 8, 2026 | −110,147 | −648 | 0 |
| Sep 15, 2026 | −97,203 | +12,944 | 13 |
| Sep 22, 2026 | −107,982 | −10,779 | 2 |
| Sep 29, 2026 | −114,554 | −6,572 | 0 |
| Oct 6, 2026 | −105,317 | +9,237 | 9 |
| Oct 13, 2026 | −91,647 | +13,670 | 22 |
| Oct 20, 2026 | −53,035 | +38,612 | 59 |
| Oct 27, 2026 | −48,081 | +4,954 | 64 |
| Nov 3, 2026 | −55,080 | −6,999 | 57 |
Net position of leveraged funds at each weekly reporting date, the change from the week before, and the COT index for that week. The index compares a week against this market’s own 52-week range: 0 is the low end of that range, 100 the high end — a high reading is not the same as a long position. Source: CFTC.
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