Citigroup strategists believe that the profit-taking risks for the Nasdaq 100 index are high.

A Citigroup quant strategist said that investors' positions in Nasdaq 100 index futures are becoming too heavy, raising the risk of short-term profit taking. The team, including Chris Montagu, wrote that after new risk money dominated in the past week, the bullish momentum in the US stock market continues. The strategist stated that despite ongoing global trade uncertainty, investors are still establishing new long positions in the US stock indices.