Tech puke over?

Monday 24 November 2025

The Market Ear with the update.

Sellers spent?

Here’s a curated collection of the best charts and trading-desk stats from overnight. Across hedge funds, CTAs, and long-onlies, positioning data suggests that most of the selling pressure may already be behind us.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.