What is the Nikkei 225 COT report?

It is the weekly CFTC Commitments of Traders breakdown for Nikkei yen-denominated (CME): how many long and short futures contracts each group of large traders held as of the prior Tuesday, published the following Friday.

How do you read Nikkei 225 net positioning?

Net position is long contracts minus short contracts for one trader group. A positive net means the group leans bullish; the weekly change matters more than the raw level.

What does the Nikkei 225 COT index mean?

The COT index rescales a group's net position 0-100 against its own high and low over the chosen lookback. Above 80 is close to the most bullish that group has been; below 20 is close to the most bearish.

What is a bearish divergence in Nikkei 225?

A bearish divergence is Nikkei 225 Index making new highs while the tracked trader group reduces its net long position — the rally is losing the sponsorship of the money that usually drives it.

Nikkei yen-denominated (CME)

Nikkei 225 positioning

Price series: Nikkei 225 Index · positions as of Tuesday Sep 15, 2026, published Friday Sep 18, 2026

Last weekly close · Nikkei 225 Index

64,136

Asset managers net position (contracts)

6,145

No signalJul 21, 2026 → Sep 15, 2026 · 8-week window

Neither price nor positioning has moved enough this window to say anything.

Price vs positioning (contracts)

Price on top, and what the big traders were holding underneath it.

Price — Nikkei 225 Index

Net position (contracts) — Net position = long contracts minus short contracts. Above the zero line = net long.

Signal classification tracks bullish divergencebearish divergenceconvergence (healthy trend)

COT Index

0–100 · vs last 3 years

How extreme today's positioning is compared with this group's own history.

Each group's current net position, rescaled 0–100 against its own high and low over the selected lookback. 0 = most bearish it has been in that window, 100 = most bullish. Unitless by design, so markets of very different sizes can be compared.

Non-commercial (large specs)28 · neutral

Leaning short, but not yet at an extreme.

Commercial (hedgers)46 · neutral

Middle of its own historical range — nothing stretched.

Asset managers31 · neutral

Leaning short, but not yet at an extreme.

Leveraged funds34 · neutral

Leaning short, but not yet at an extreme.

0 · most bearish50 · mid-range100 · most bullish

COT Index = ((Current − Min) / (Max − Min)) × 100, over the last 3 years

Method credit: the 0–100 normalization goes back to Larry Williams' COT work in the 1980s and was developed and popularized by Stephen Briese, author of The Commitments of Traders Bible.

Asset managers — COT index history (0–100, rolling 3 years window)

Disagreement Index

contracts · index 0–100

How far apart two trader groups are right now.

Gap = group A's net position minus group B's, measured in contracts. The Disagreement Index rescales that difference 0–100 against its own last 3 years: 0 = the two groups as close together as they get, 100 = as far apart as they get.

Disagreement Index · vs last 3 years

Disagreement sits in its normal historical range — nothing stretched.

Current gap (contracts)

-5,176 contracts

Left axis: gap in contracts (positive = Leveraged funds is more net long than Asset managers). Right axis: disagreement index, 0–100. Gap tracks Leveraged funds − Asset managers.

Latest week by category

What each trader group was holding in the most recent report.

Positions as of Tuesday Sep 15, 2026, published Friday Sep 18, 2026, compared with the prior weekly report. Positive net = net long; negative net = net short. COT index is measured over the last 3 years.

Category	Long (contracts)	Short (contracts)	Net (contracts)	Weekly change (contracts)	COT index (0–100, 3y)
Non-commercial (large specs)	5,542	2,918	2,624	-100	28
Commercial (hedgers)	11,643	6,880	4,763	+849	46
Asset managers	6,902	757	6,145	-253	31
Leveraged funds	4,031	3,062	969	-191	34

Signal log — Asset managers

Every past signal in this market, and what price did afterwards.

Every rolling 8-week window classified as a bullish or bearish divergence, or as convergence where price and positioning agree. Price change is in percent; net change is in contracts.

Each row covers one stretch of weekly reports: the % is the price change over that stretch, the net figure is the change in the group's net position, in contracts.

Convergence — healthy downtrendJun 16, 2026 → Sep 1, 2026price -8.7% · net position -2,072 contracts
Bullish divergenceMay 26, 2026 → Jul 28, 2026price -3.0% · net position +1,806 contracts
Convergence — healthy uptrendFeb 17, 2026 → Jul 7, 2026price +20.6% · net position +4,225 contracts
Bullish divergenceFeb 3, 2026 → Mar 31, 2026price -2.1% · net position +3,619 contracts
Convergence — healthy uptrendDec 16, 2025 → Mar 3, 2026price +12.3% · net position +2,324 contracts
Bearish divergenceNov 10, 2025 → Feb 3, 2026price +7.7% · net position -4,056 contracts
Convergence — healthy downtrendOct 28, 2025 → Dec 23, 2025price -3.2% · net position -3,756 contracts
Bearish divergenceOct 14, 2025 → Dec 9, 2025price +6.8% · net position -1,002 contracts
Convergence — healthy uptrendAug 26, 2025 → Nov 25, 2025price +17.6% · net position +1,373 contracts
Bearish divergenceJul 29, 2025 → Sep 30, 2025price +12.2% · net position -249 contracts
Convergence — healthy uptrendJul 15, 2025 → Sep 16, 2025price +13.1% · net position +1,165 contracts
Bearish divergenceApr 29, 2025 → Sep 2, 2025price +16.8% · net position -2,366 contracts

Source: CFTC Commitments of Traders — positions as of Tuesday, published the following Friday. All position figures are futures contracts unless the % of open interest view is selected. Positioning is a sentiment tool, not a timing signal. Not investment advice.