The Citigroup report points out that since August, long positions in the US stock market have continued to increase, and investors in the Nasdaq 100 and Russell 2000 indices have seen an increase in book gains. Citigroup strategist David Chew said that the increase in US stock exposure in August drove the rebound of the Nasdaq 100 and small cap stocks, but the momentum of capital inflows slowed down. Russell's 2000 long nominal exposure has risen to a three-year high, with an average floating profit of about 2.5%. If growth or consumer data weakens, the market will face profit taking pressure.
