As the global equity market continues to experience a surge in investor interest, positioning sits near $145 billion, placing it at the 85th percentile. According to a recent report by Goldman Sachs, trends are still supportive of incremental buying, with only the Nasdaq’s short-term outlook showing negative sentiment. Meanwhile, SPX flows remain positive, with CTAs holding long positions valued at $35.5 billion and an expected additional $4.5 billion in buying this week. A key short-term threshold sits at 6828, providing a potential area of support for the market.

The report notes that while the current positioning is near the upper end of the historical range, it is still within a reasonable range given the current economic environment and market fundamentals. However, investors are advised to exercise caution and be prepared for potential volatility in the coming weeks.