Report week of Oct 27, 2026
COT report recap — week of Oct 27, 2026
The CFTC published its Commitments of Traders report for Oct 27, 2026. Across the 35 futures markets tracked here, the headline is where money actually moved this week and which groups are sitting at a three-year positioning extreme. 2 markets show a bearish divergence and 5 a bullish one; 14 show price and positioning moving together. Everything below is drawn straight from the CFTC's own weekly release, measured as of Tuesday's close.
Divergences by sector
Biggest weekly position changes
The largest week-on-week swings in net contracts. Big single-week shifts usually follow a macro event, an expiry, or a break of a well-watched level — they are the clearest sign of where large traders actually changed their mind.
| Market | Group | Net | Weekly Δ | COT idx (3y) | Signal |
|---|---|---|---|---|---|
| 10-Year Treasury | Leveraged funds | -2,227,275 | -120,051 | 21 | No signal |
| Corn | Managed money | 81,113 | -83,310 | 57 | Convergence — healthy downtrend |
| 2-Year Treasury | Leveraged funds | -1,357,658 | -72,110 | 87 | No signal |
| Ultra 10-Year | Leveraged funds | -258,257 | +60,220 | 48 | No signal |
| Natural Gas | Managed money | -206,317 | -48,908 | 0 | Convergence — healthy downtrend |
| 5-Year Treasury | Leveraged funds | -2,077,860 | +39,684 | 86 | No signal |
| S&P 500 | Leveraged funds | -400,604 | -29,359 | 35 | Convergence — healthy downtrend |
| Soybeans | Managed money | 193,781 | -27,544 | 84 | Convergence — healthy downtrend |
| Sugar #11 | Managed money | 237,711 | -26,819 | 95 | No signal |
| Wheat (Chicago SRW) | Managed money | -74,606 | -22,601 | 36 | Convergence — healthy downtrend |
Positioning at a 3-year extreme (COT index above 90 or below 10)
A COT index above 90 means this group is about as long as it has been in three years; below 10 means about as short. Extremes mark crowded trades — they say who is already committed, not when the market turns.
| Market | Group | Net | Weekly Δ | COT idx (3y) | Signal |
|---|---|---|---|---|---|
| 30-Year Treasury Bond | Leveraged funds | -150,393 | +12,364 | 100 | No signal |
| Euro FX | Leveraged funds | -71,574 | -2,734 | 0 | Convergence — healthy downtrend |
| Natural Gas | Managed money | -206,317 | -48,908 | 0 | Convergence — healthy downtrend |
| Bitcoin | Leveraged funds | -3,979 | +963 | 100 | Bullish divergence |
| Sugar #11 | Managed money | 237,711 | -26,819 | 95 | No signal |
| Canadian Dollar | Leveraged funds | -96,747 | -5,634 | 7 | No signal |
| RBOB Gasoline | Managed money | 91,442 | -2,270 | 92 | No signal |
Bearish divergences — price up, big money stepping back
Price has been climbing while the trend-following crowd trimmed or reversed their net long. That gap is a warning, not a sell trigger: it says the rally is running with less institutional backing than it looks.
| Market | Group | Net | Weekly Δ | COT idx (3y) | Signal |
|---|---|---|---|---|---|
| US Dollar Index | Leveraged funds | 3,158 | -25 | 54 | Bearish divergence |
| WTI Crude Oil | Managed money | 31,128 | -5,059 | 24 | Bearish divergence |
Bullish divergences — price down, big money building
Price has been falling while large speculators added to their net long. Historically this is where washed-out moves have found a floor, though it can persist for weeks before price turns.
| Market | Group | Net | Weekly Δ | COT idx (3y) | Signal |
|---|---|---|---|---|---|
| Nasdaq 100 / QQQ | Leveraged funds | 2,301 | +1,351 | 86 | Bullish divergence |
| Dow Jones 30 | Leveraged funds | 96 | +2,063 | 56 | Bullish divergence |
| Russell 2000 | Leveraged funds | -48,081 | +4,954 | 51 | Bullish divergence |
| Bitcoin | Leveraged funds | -3,979 | +963 | 100 | Bullish divergence |
| Ether | Leveraged funds | -4,025 | +1,103 | 81 | Bullish divergence |
New to the COT report?
The guide explains who the trader groups are, what net position means, and how the COT index and disagreement index are calculated.
Read the guide →Positioning is measured as of Tuesday and released Friday, so it always lags price. Nothing here is investment advice.