15 July 2025
Here’s your latest Sentiment Heatmap update. We usually publish these on Mondays—unless it’s a Buy Side Sentiment Tracker week. If you haven’t seen this month’s Tracker yet, check it out—it’s our biggest and best edition to date, with more asset manager views, more charts, and deeper analysis. I’ve made it free to access for all members to showcase the new features.
This week’s Heatmap is also our most comprehensive yet, now including currency and commodity heatmaps alongside equities.
This Heatmap update is also the biggest ever. I have added currency and commodity heatmaps to the mix.
What Stood Out This Week
Sentiment Overview
- The Risk-On/Risk-Off Heatmap is just above the 50th percentile—neutral sentiment, despite equities sitting near all-time highs.
- No indicators are currently at sell thresholds, though a couple are close.
- Only one buy signal: the STAX (Schwab Trading Activity Index) has hit its buy threshold, which contradicts the common view that retail investors are overly bullish.
Equities
- Most bullish sector: Communication Services
- Most bearish sector: Consumer Discretionary
- Tech: Bullish but not extreme
- The defensive bias seen in the Buy Side Tracker isn’t as obvious in CFTC positioning.