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Latest client sentiment data from Capital.com shows a surge in bullish positioning across major asset classes, with retail traders leaning heavily into gold and US equity indices while adjusting positions in FX and commodities.
Indices: Strong Buy Bias Across US Markets
Retail traders increased their long bias across all four major US equity indices last week. Notably:
Join our WhatsApp Channel- S&P 500: Long positions climbed to 73% this Monday September 29, 2025, up from 67% the previous Monday, putting sentiment firmly in heavy buy territory.
- Dow Jones: Long bias strengthened to 66%, from 56% a week earlier.
- Russell 2000: Traders showed a robust 76% long bias, edging close to extreme buy.
- Nasdaq 100: Shifted from a slight sell (53% short) at the start of last week to a 59% majority long by this week.
Commodities: Gold and Silver Attract Buyers, Oil Cools
Precious metals saw intensified demand as traders re-entered long positions:
- Gold: Heavy buying rose to 67%, up from 63% the week prior, as traders looked to re-establish positions after profit-taking.
- Silver: Slight increase to 69% from 68%, echoing gold’s pattern.
- WTI Crude Oil: Experienced a significant unwind, falling to 71% long from 88% the previous Monday, though unwinding longs cooled later in the week.
FX: Euro and Sterling Gain Favor, Yen Levels Out
Retail traders adjusted their FX positions with notable moves in major pairs:
- EUR/USD: Shifted from a slight long bias (51%) to a stronger 57% majority long.
- GBP/USD: Increased long positions to 64%, up from 60%.
- USD/JPY: Neutralised, falling back from a 60% majority long to near-balanced positioning.
“Our clients are showing clear conviction in gold and US indices, which are now firmly in buy territory. The shift in Nasdaq from a short bias to a majority long is particularly striking, suggesting traders are positioning for momentum. At the same time, the unwind in oil shows how quickly sentiment can cool, even in a strongly trending market, ” said Monte Safieddine, who heads a market research unit at Capital.com.
